03/07/2023

State-owned Ukreximbank has increased the credit limit for Radekhivskyi Sugar, one the largest sugar producers in Ukraine and a member of Pfeifer&Langen international group of companies. The new 18-month USD 10 million credit line will complement the existing USD 15 million credit already used by the company. The funds are provided through a joint project with the International Bank for Reconstruction and Development.

«This agreement is particularly remarkable as it goes beyond the standard terms of the World Bank's credit program. Radekhivskyi Sugar is a powerful producer that plays an important role in ensuring the country's food security and generating foreign exchange revenue. As an export-oriented enterprise, it possesses a stable business model and well-organised production processes and meets the criteria of the joint project with the World Bank. Consequently, we are delighted to have received the IBRD's approval to expand the financing for the company's ongoing operations and future development», - stated Sergii Iermakov, Chairman of the Management Board of Ukreximbank.

The company's production facilities, consisting of five sugar beet processing plants, are located in the Lviv and Ternopil regions. Its products are supplied to both the domestic market and international customers, including renowned Ukrainian and international brands in the confectionery and food industry.

Despite temporary government restrictions on sugar exports during the summer-autumn period to prevent shortages, the export of sugar remains a significant industry development driver. Following the challenges of the first year of the full-scale invasion of Ukraine, there has been an increase in sugar beet cultivation areas, the number of operational processors, and production volumes. Considering the current market conditions, Radekhivskyi Sugar also plans to expand its production and sugar sales. The company's export share rose from 6% in 2021 to 28% by the end of 2022, establishing its position as a market leader.