Kiev, Ukraine, January 14, 2013—IFC,
a member of the World Bank Group, is providing long-term debt financing
to Ukraine’s leading poultry producer, Myronivsky Hliboproduct (MHP),
to help the company expand its operations at home and abroad, creating
hundreds of new jobs and contributing to global food security.
In its fourth transaction with the company, IFC is providing a $50 million
loan to support MHP in implementing its expansion program in the central
Ukraine region of Vinnytsia. The new plant will have a production capacity
of 440,000 tons of poultry a year to supply Ukraine and export markets.
“IFC has supported us through all stages of the development," said
Yuriy Kosyuk, Chief Executive Officer of MHP. "It has been a true
partnership. Our new deal will enable the company to go to the next level,
continue to improve, innovate, expand, and contribute to Ukraine’s sustained
The poultry producer plans to increase its staff by 8,000 to around 33,000
during the next five years. The network of small and medium businesses
and individual franchises that sells the company’s products is also expected
to expand. Most of these businesses operate in small towns in Ukraine’s
"Supporting Ukraine’s agribusiness sector throughout the value chain
is a core part of our strategy in the country," said Rufat Alimardanov,
IFC’s Regional Head for Ukraine and Belarus. "We help Ukraine capitalize
on its competitive advantages, including a fertile soil and strong agricultural
tradition, and contribute to global food security. This investment in MHP
is a good example of how we can support increasing sustainable food production
by providing long-term financing and advisory support.”
IFC is also working with the company to help improve resource efficiency
in its operations and implement GLOBAL G.A.P., an internationally recognized
standard for safe and sustainable agriculture. This will set an example
for other agricultural producers in Ukraine and in the region.
In agribusiness, IFC supports the entire value chain, from farming to processing,
to distribution. IFC also offers extensive advisory programs in Ukraine,
helping simplify business regulations in the sector, expanding access to
finance for farmers, and developing the agri-insurance market.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, mobilizing
capital in international financial markets, and providing advisory services
to businesses and governments. In FY12, our investments reached an all-time
high of more than $20 billion, leveraging the power of the private sector
to create jobs, spark innovation, and tackle the world’s most pressing
development challenges. For more information, visit www.ifc.org.
MHP is a vertically-integrated company and the leading poultry producer
in Ukraine. The group grows its own grain to supply its fodder mills and
produces feed for its two breeder farms and four chicken farms. MHP undertakes
the entire production cycle, from chicks to mature birds to finished product,
and distributes its products with its own fleet of trucks. The company
sells much of its product through a network of franchised stores. For more
information, visit http://www.mhp.com.ua/.