The European Bank for Reconstruction and Development (EBRD) has allocated a loan of EUR 24 million to Kyiv-based MHP, one of the largest poultry meat producers.
This is stated in the information of the bank, Ukrainian News Agency reports.
"The project includes financing MHP's working capital requirements for crop production. The main goal of the project is to provide sufficient funding for a successful sowing season," the information says.
This project is part of the package "Food Security of Ukraine," it is aimed at supporting food security in Ukraine by increasing the stability of corporations, small and medium-sized enterprises and aggregators in agricultural value chains and helping to reduce losses due to disruptions in supply chains, which should increase the availability of food in the region.
As Ukrainian News Agency earlier reported, in January-March 2022, MHP incurred a loss of USD 122 million against the net profit of USD 1 million for the same period in 2021.
The company ended 2021 with a net profit of USD 393 million, increasing revenue by 24.1%, or USD 461 million, to USD 2.372 billion.
On February 2, 2021, Mironivsky Hliboproduct officially changed its legal name to MHP.
MHP is a vertically integrated complex of enterprises producing chicken, hatching eggs, feed, engaged in crop production, cultivating 360,000 hectares of land, and producing chicken meat under the name Nasha Riaba.
Yurii Kosiuk is the founder of the company.
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