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TaiwanICDF and EBRD develop grain storage infrastructure in Ukraine

TaiwanICDF and EBRD develop grain storage infrastructure in Ukraine

The International Cooperation and Development Fund (TaiwanICDF) and the European Bank for Reconstruction and Development (EBRD) will cooperate and provide financing to a local grain company in Ukraine for the expansion of its grain storage facilities. It is hoped that the project will finance the new energy efficient grain storage facilities in northern Ukraine. It will contribute to Ukraine’s strategy to secure its leading international position in grain exports. The loan was signed on December 11, 2019 at the company’s headquarters.

Data from the Ministry of Economy and Agriculture of Ukraine shows that grain exports from the country are expected to substantially grow over the next two years after a 23 percent increase to 50 million tons in years 2018 and 2019. It will increase the demand for modern and efficient grain storage facilities. The loan will also be supported by the EBRD’s Finance and Technology Transfer Centre for Climate Change (FINTECC) program to assist the company to install two biomass-fired heat generators with a total capacity of 24MW. Once operational, they will produce 43,200 MWh of renewable energy per year and will help reduce annual CO2 emissions by 7,200 tons.

In response to the global issue of food security, in 2015, the TaiwanICDF, together with the EBRD launched their first Agribusiness Fund – the Financial Intermediary and Private Enterprises Investment Special Fund-Agribusiness Account – a program that ensures that private agribusinesses will have access to financing for development in the EBRD region. Since then, including the current project, the fund has successfully financed eight agribusinesses in Turkey, Moldova, Turkmenistan and Ukraine and assisted them in obtaining the finance for growth expansion. The successful implementation has brought the TaiwanICDF and the EBRD together again to contribute to the second-stage cooperation on Innovation and Sustainability in Agribusiness Value Chains Project this year. The new program will be devoted to the development of a sustainable food value chain, fostering the development of a greener and more inclusive agribusiness sector.

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  • Date:2019/12/18