Astarta has entered into an investment loan agreement with the Joint Stock Company Commercial Bank PrivatBank to modernise the company’s agricultural and sugar production aiming to increase its export potential.
The total credit limit is USD10m. The loan term is five years.
“It is Astarta’s first deal with PrivatBank and the beginning of our partnership with one of the largest banks in Ukraine. Such cooperation is important and especially valuable as state-owned banks were the first to provide long-term financing to Ukrainian agribusiness during the full-scale war. We plan to use the loan funds to refinance investments in the modernisation of sugar production, development of livestock and crop production,” said Lilia Lymanskaya, Astarta’s Chief Financial Officer.
“Financing agricultural production, both for small businesses and large companies, is our top priority. PrivatBank remains one of the leaders in terms of lending to agrarian business, as this is the basis of the country’s food security,” said Yevgeniy Zaigraev, SME Board Member of PrivatBank, “Today, we are expanding financing to leading modern agricultural enterprises, such as Astarta, which has impressive business development dynamics and modernisation and is a crucial producer of agricultural products.”