OREANDA-NEWS. June 15, 2011. The European Bank for Reconstruction and Development considers granting a new loan to consolidate the existing EBRD loans to the Group and provide additional long-term financing. The project, when approved by the EBRD Board of Directors, will comprise of up to USD  80 million. The proceeds of the loan will be utilized with the purpose to consolidate the existed EBRD loans and to facilitate further dynamic development of agricultural, diary  and sugar business segments. It will enable increased business diversification and vertical integration, as well as more simple credit portfolio management.

The Bank provided three loans to the Group before (in 2008 and 2009: two credit lines of USD  20 million each and one facility of EURO 10 million in July 2010), which resulted in considerable energy efficiency improvements in ASTARTA's agri- and sugar production.