The European Bank for Reconstruction and Development (EBRD) has agreed to provide a loan of $12.5m to Ukraine’s Nyva Pereyaslavschiny Group for improving pig breeding practices.
Funds will be used to build a meat-processing factory and meat waste recycling plant, as well as enhance its pig-breeding capacities.
The project is also expected to help the company to minimise Green House Gas (GHG) emissions.
Additional support is provided by a parallel loan of a similar size from the International Finance Corporation (IFC), a member of the World Bank Group.
The project will also benefit from a $450,000 incentive grant, which would cover part of the expenditure on new straw boilers and the recycling unit.
The grant will be provided through the EBRD’s Finance and Technology Transfer Centre for Climate Change (FINTECC) programme, which has been designed to transfer technology in the area of climate change mitigation and adaptation that was launched in Ukraine in February 2016.
Spanning over a period of three years, the FINTECC programme is supported by $7m of grant funding from the Global Environment Facility (GEF) and a €4m ($4.5m) grant from the European Union (EU) Neighbourhood Investment Facility (NIF).
Nyva Pereyaslavschiny Group’s project will also receive funding from the Japan-EBRD Technical Cooperation Fund.
EBRD began its operations in Ukraine in 1993, and since then the bank is said to have made a cumulative commitment of almost €13.1bn ($14.9bn) across 418 projects in the country.
