OREANDA-NEWS. October 19, 2011. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and LLC EuroBio-Tech entered into a Credit Agreement.

On behalf of Vnesheconombank the Agreement was signed by Board Member-Vnesheconombank Deputy Chairman Anatoly Ballo and on behalf of LLC EuroBio-Tech – by Director General Alexander Zuev.

Under the Agreement Vnesheconombank is to open a credit line for LLC EuroBio-Tech with a drawdown limit of 5 billion rubles for a period of 8 years. The funds are intended for financing the project to construct a poultry producing and processing integrated facility in the Samara region with a capacity of up to 30 tons of broiler meat per year. The project’s initiator is OJSC The Samara Region Development Corporation.

The project aims to create an advanced production facility with production cycle maximum self-sustainability which includes production of fodder and incubator eggs, growing and deep processing of poultry and waste utilization. The project would create about 700 new jobs and generate budget revenues of 1 billion rubles.

The project’s implementation will make it possible to meet the region’s demand for domestically produced chicken meat.