EBRD Provides Financing to Green Agribusiness in Serbia
5 August 2011: The European Bank for Reconstruction and Development (EBRD) has announced that it is providing a EUR80 million loan to Serbia's agricultural sector to expand the production and increase energy savings of MK Group, a leading agribusiness group in Serbia.
The financing will assist MK Group and its trading arm MK Commerce to build up their farming operations as well as upgrade Sunoko, a local sugar producer, with the goal of reducing carbon dioxide (CO2) emissions and thermal consumption. The EBRD will provide up to EUR40 million of the total financing.
Gilles Mettetal, EBRD's Director for Agribusiness, highlighted that the investment will provide MK Group with a stable financing platform and resources for energy efficiency measures and higher environmental standards. [EBRD News]