EBRD May Finance Axereal’s Grain Project in Southeastern EuropeMisha Savic
The European Bank for Reconstruction and Development is considering a loan and equity investment in Axereal, a French agro-industrial cooperative that plans to buy grain silos in Serbia, Romania, Hungary and Croatia.
The 28 million-euro ($37 million) loan would boost Axereal’s working capital and an equity investment of 10 million euro would help it purchase the silos, the London-based lender said in an e-mailed statement. It will also provide advance financing to farmers for quality seeds and fertilizers, the lender said.
The project requires the EBRD’s board approval on March 26.