Denmark allocates 12.8 mln euros to Ukraine's Nibulon grain trader for purchase of agricultural equipment

MOSCOW. May 3 (Interfax) - One of Ukraine's largest grain market operators, Nibulon, has received 12.8 million euros from the Export and Investment Fund of Denmark (EIFO) to purchase 74 items of state-of-the-art agricultural equipment.

"The funding took place as part of the social program of the Danish Investment Fund established for Ukraine. The launch of the program was announced last May during the Ukrainian Investment Forum in Copenhagen. The program will finance projects involving the adoption of the best Danish technologies and innovative solutions and will be available to both the public and private sectors," Ukrainian media outlets quoted Nibulon's press service as saying on social networks.

EIFO CEO Peder Lundqvist said he is confident that the financing would help the company to increase grain yield by modernizing agricultural machinery and strengthen its long-term financial position.

JV Nibulon LLC was created in 1991. Previously, the grain trader owned 27 transshipment terminals and complexes for receiving agricultural crops, with simultaneous storage capacity of 2.25 million tonnes and a fleet of 83 ships. The company also processed 82,000 hectares of land and exported agricultural products to over 70 countries. Currently, Nibulon is operating at 32% of its capacity.

EIFO is Denmark's national promotional bank and export credit agency combined in one financial institution