By KYIV. Dec 16 (Interfax-Ukraine) – The International Finance Corporation (IFC) will increase the credit line of InVivo Group, one of the leading agricultural groups in Europe, from EUR 50 million to EUR 65 million to support the working capital of Ukrainian companies of its subsidiary Soufflet Group.
As reported on the IFC website, the board of directors of the corporation approved the decision on December 15, and the necessary documents are currently expected to be signed.
It is expected that, taking into account the increase in prices, InVivo’s working capital needs in Ukraine will amount to EUR 60-70 million. The proposed increase in financing from IFC in the amount of up to EUR 65 million in the form of a loan will support InVivo’s working capital and liquidity needs in Ukraine, the IFC said.
IFC recalled that in October 2021, it opened a credit line for InVivo Group in the amount of up to EUR 50 million to finance the working capital needs of Soufflet Group companies in Bulgaria, Kazakhstan, Poland, Romania and Ukraine.
InVivo is presented in 38 countries. It works in the field of agriculture, malt production, culinary ingredients, confectionery, horticulture, cereals and wine trade.
In Ukraine, the group manages a malt house and an agro division that handles grain harvesting, manages warehouses and elevators. InVivo supports farmers by financing their agricultural inputs (e.g. seeds, fertilizers, plant protection products) either directly or through in-kind pre-financing.
