The private Epicentr Group is the largest do-it-yourself (DIY) retail network in Ukraine in terms of total stores area, number of stores and revenues, being larger than its nearest competitor by over 20 times. Aiming to diversify its activities, the Group started its own agribusiness division with a target to build a solid market position in a sector predominantly generating hard currency revenues.

Agribusiness is one of the sectors in which Ukraine excels, due to its undisputable competitive advantages. Soil and climate, geographic position and potential for productivity growth make Ukraine’s agribusiness one of the most compelling sectors for investment. For the last several years Ukraine has gained one of the key positions among the largest exporters of agricultural produce.

The Group approached BSTDB with a request to consider financing part of the corporate development program for its agribusiness segment for the years 2019-2020, estimated at over USD 240 million. BSTDB approved debt financing of USD 70 million to support the construction of three new grain silos, the modernization of four existing ones and the purchase of agricultural machinery.

The Bank’s financing is expected to be instrumental for the expansion of the Group in the agribusiness sector in Ukraine and to contribute to the development of the infrastructure of this sector, creation of new jobs and increasing the export revenues, thus strengthening the national currency of the country.