EBRD To Lend €40M To Siberia’s MK Group

The European Bank for Reconstruction and Development (EBRD) and a syndicate of international commercial banks will lend €80 million to MK Group and its trading unit MK Commerce. Of the total long-term financing, EBRD will provide about €40 million.

The loan will help the Siberian company boost farming operations by expanding production and increasing energy savings and also help meet working capital needs. Nearly €10 million of the funds will be invested in an equipment upgrade at sugar producing firm Sunoko.

Click here for the release from EBRD.