EBRD to give dlrs 12 million loan to Ukrainian biggest glass producer

The European Bank for Reconstruction and Development will provide a dlrs 12 million loan to modernize Ukraine's oldest and biggest glass packing producer, bank officials said Tuesday in a statement.

The loan to the Hostomel glass plant will pay for repairing and modernizing equipment, and bringing the plant's accounting system into line with international standards, the statement said.The deal will also help the plant produce glass packs for the beer industry, which EBRD also supports."This long-term financing is very important for us, because it gives us enough time to bring our production standards to an international level," said Pavlo Rybitskyi, the plant's director.

The EBRD has lent about dlrs 1.4 billion to Ukraine, signing 41 deals over the past decade to stimulate the development of private enterprise.

600450 EBRD to give dlrs 12 million loan to Ukrainian biggest glass producer glassonweb.com
Date: 28 March 2002
Source: Yahoo

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