G.R. Agro and Credit Agricole Bank on July 7 completed the signing of a five-year project to implement a strategic partnership – the press service of G.R. Agro.
It is noted that the result of the transaction was the signing of a five-year agreement on the provision of a revolving credit line in the amount of $ 2.5 million.
According to the message, the loan funds will be used to replenish working capital to ensure an increase in the volume of trade operations with grain and diversify risks associated with an increase in world prices for grain.
“For over 10 years, Credit Agricole has been a strategic partner for agricultural companies. We are expanding our loan portfolio by providing agricultural companies with a wide range of financing products: working capital replenishment, promissory notes advancement, bank guarantees and investment lending. We are proud to contribute to the development and success story of G.R. Agro. The group is actively developing, increasing assets, increasing storage capacity and cooperating with many of our clients. We are set for fruitful work!” – Larisa Bondareva, Deputy Chairman of the Board of Credit Agricole Bank.
In addition, during the project, G.R. Agro was completely restructured. Consolidation of company assets, change in business model resulting in G.R. Agro has confirmed that it meets all the requirements of Credit Agricole Bank to provide long-term financing.
“For us, this is a big step forward in Ukraine. The process of structuring business in Ukraine was not easy, but we were able to overcome all difficulties and start working with one of the leading European banks”, commented G.R. Agro Artem Rempen.
In G.R. Agro emphasized that this is a positive signal for all partners and clients about sustainable development and strengthening of the company’s position in the Ukrainian market.
“Signals from banks with foreign capital that they are ready to finance our industry in the future are very important for us. This, in turn, gives confidence in the further development of the entire agricultural sector of Ukraine”, he summed up.