Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Ukraine
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • International Finance Corporation (IFC)
Status: Active
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-05-31
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: ASTARTA-KYIV,TOV
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Agriculture and Forestry
  • Industry and Trade
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ IFC website
Updated in EWS: 2017-08-08
Disclosure Date: 2016-04-28
Astarta FMO loan
IFC-38157

Project Description
This project provides financing to Astarta to procure procure farming inputs before harvest and purchase crops from local farmers at the time of harvest for further processing or export. No expansion of existing facilities or launch of new business will be conducted by the company as a part of this project.
Investment Description
Astarta is a leading primary agriculture producer in Ukraine. Astarta’s principal activities include (i) production of sugar beet and high quality white sugar, (ii) production of other crops including wheat, barley, corn, sunflower, and soya, (iii) soybean processing, and (iv) cattle farming. The Company owns and operates 9 sugar plants, soybean processing plant, bioenergy complex, and chain of grain silos and supporting infrastructure facilities in 4 operational regions in Ukraine. 37.80% of Astarta is owned by Viktor Ivanchyk and 25.99 % by Valery Korotkov, 2.38% of interest is held by Astarta as treasury shares, and the remaining 33.83 % is floated on the Warsaw Stock Exchange.
Contact Information
Mr. Viktor Gladky, Chief Financial Officer, LLC Firm “Astarta-Kyiv” Phone: 380 44 593 11 05 Fax: 380 44 593 11 32 Email: mailto:gladky@astarta.ua ACCOUNTABILITY MECHANISM OF IFC/MIGA The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/