EBRD considers granting EUR 120 million to Kostic's Agri Europe

The European Bank for Reconstruction and Development (EBRD) has announced it is about to approve a financial package of EUR 120 million to Serbian and Ukrainian subsidiaries of the Agri Europe company.

This funding is aimed at improving the company's balance sheet and expanding its operations, the EBRD said in the release. The financial package will consist of a syndicated loan of up to EUR 109 million for Serbian units and a parallel loan of up to EUR 11 million for Agri Europe Ukraine. Final decision on the approval of this loan will be made by the EBRD Executive Board on April 8th.

Agri Europe is a holding company that consolidates the activities of MK Grupa in the field of sugar production, meat processing, trade and agricultural activities in Serbia and its smaller investments in Ukraine. In July 2014, the EBRD acquired a 7 percent stake in Agri Europe for EUR 50 million.