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Chervonskiy Tsukrovyk updates production facilities due to US$2.05 million loan
03.10.2005 12:24 "Agro Perspectiva" (Kyiv) —
Company Chervonskiy Tsukrovyk (Andrushivskiy district, Zhytomyr region) has obtained US$2.052 million credit from Bank Aval for production facilities modernization/capacities enhancing, reported Aval press-service.
As to Sergiy Vovchenko, Aval Board Deputy Chairman, financial means have been granted for 5 years on condition LIBOR + 6% yearly interest.
Vovchenko made it known this project implementation will assure sugar output boosting, resources base enlarging/beet resources selection quality enhancing.
As to press-service, credit has been furnished at cost EBRD financial means allocated within EBRD direct credit line frameworks without Government additional guarantees/NBU Projects Management Group agreement.
Aval is first Ukrainian bank this credit line has been furnished to.
Projects financing performed within EBRD direct credit line frameworks much shortens end-use borrowers credit resources arranging/obtaining period as well as assures credits usage reduced interest rates.
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