US$3b agri-financing deal
Source: Bloomberg News |
May 30, 2012, Wednesday
|
Print Edition
Print Edition
CHINA has agreed to finance US$3 billion of agricultural projects in Ukraine in areas ranging from trade to fertilizer and cultivation, China's Ministry of Agriculture said yesterday.
The Export-Import Bank of China will fund projects to be carried out by State Food & Grain Corp of Ukraine and China National Complete Plant Import & Export Corp, the ministry said.
The main areas include procuring pesticide, seeds and equipment from China, selling Ukrainian agricultural products to China, the construction of pesticide and organic fertilizer plants and growing crops, the ministry said.
The agreement marks a "significant achievement" in Chinese companies' expansion in Ukraine, it said. The loans will be guaranteed by Ukraine's Ministry of Finance.
Ukraine is seeking to sell 3 million tons of corn to China in the marketing year that will start on July 1, Interfax-Ukraine newswire reported last week.
The Export-Import Bank of China will fund projects to be carried out by State Food & Grain Corp of Ukraine and China National Complete Plant Import & Export Corp, the ministry said.
The main areas include procuring pesticide, seeds and equipment from China, selling Ukrainian agricultural products to China, the construction of pesticide and organic fertilizer plants and growing crops, the ministry said.
The agreement marks a "significant achievement" in Chinese companies' expansion in Ukraine, it said. The loans will be guaranteed by Ukraine's Ministry of Finance.
Ukraine is seeking to sell 3 million tons of corn to China in the marketing year that will start on July 1, Interfax-Ukraine newswire reported last week.
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