Making its largest investment in Ukraine since 2008, IFC of the World Bank Group is investing $250 million into expanding Ukraine’s leading poultry producer Myronvisky Hilboproduct (MHP). MHP has become one of the largest poultry producers in Eastern Europe controlling half of the chicken market in Ukraine, selling approximately 40% of its production domestically. The funding from IFC to support further expansion of the company includes $100 million in debt from the IFC’s own account, and $75 million through the IFC Managed Co-Lending Portfolio Program which offers investors a vehicle through which to passively participate in IFC’s senior loan program. An additional $75 million is being raised through other sources. The ag sector represents over 40% of the IFC’s portfolio in Ukraine with the goal of modernizing supply chains, improving competitiveness, and expanding access to financing in order to return the sector back to economic growth.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free weekly enhanced eNews service