The European Bank for Reconstruction and Development announces that it is joining the $ 150 million financing package for Trans-Oil. In a press release it is mentioned that "Moldova’s leading agricultural company Trans-Oil will be able to increase its production of sunflower oil and explore new markets thanks to a comprehensive $ 150 million financing package from three development banks and six commercial lenders”, IPN reports.
The EBRD is providing US$ 30 million. The facility, arranged by ING Bank, also involves UniCredit Bank Austria, the Black Sea Trade and Development Bank, the Dutch Development Bank FMO, Mobiasbanca - OTP GROUP, OTP Bank, FIMBank, and Banque Cantonale Vaudoise.
Trans-Oil covers the full agricultural value chain from farming, grain handling, storage and trading to wheat flour production, oilseed crushing and oil bottling. The loan will be used to ensure the company's trading of crops in 2019.
This year, Trans-Oil is planning to increase its production of organic sunflower oil as well as high oleic sunflower oil, with the latter containing more “good” fat and considered to be a healthier option. Trans-Oil is also working to strengthen its current position in the European Union, the Middle East and North Africa, as well as to expand to new markets.
EBRD is the largest institutional investor in Moldova and to date has invested over 1.2 billion euros in the country.