OREANDA-NEWS. IFC, a member of the World Bank Group, is providing up to USD 250 million in debt financing to expand leading poultry producer Myronivsky Hliboproduct (MHP), which employs over 30,000 people, and to develop Ukraine's agribusiness sector, a key driver for the economy.

The financing package is IFC's largest investment in Ukraine since 2008. It includes USD 100 million in debt from IFC's own account and USD 75 million from IFC's Managed Co-Lending Portfolio Program, which provides long-term financing through co-financing partners. Additionally, up to USD 75 million is being raised from other lenders as syndicated loans.

“IFC's funding will help us continue our expansion program despite the challenging economic environment in Ukraine,” said Yuri Kosyuk, MHP founder and chief executive officer. “We consider IFC a long-term partner, since the early 2000s. With IFC's support we will continue to build our regional and global competiveness.”

Rufat Alimardanov, IFC Regional Head for Ukraine and Belarus, said: “We are stepping up our efforts to support Ukrainian companies and help the country realize its competitive advantages and return to economic growth. This financing for MHP is our largest ever investment in Ukraine's agribusiness sector.”

Supporting agribusiness along the value chain is a cornerstone of IFC's strategy in Ukraine. The agriculture sector represents over 40 percent of IFC's current investment portfolio in the country. IFC is also implementing a large advisory program in the sector, helping simplify business regulations, modernize supply chains, improve competiveness, and expand access to finance.

IFC first invested in MHP back in 2003. Since then the company has grown into one of the largest poultry producers in Eastern Europe. It controls about a half of the chicken market in Ukraine, a country of 46 million people. MHP sells about 40 percent of its products in Ukraine through a network of small and medium businesses and franchises, supporting economic activity across the country.