Mriya IV Project

General

The project involves providing an annual revolving working capital facility to Mriya, a leading Ukrainian primary agricultural producer with a proven track record of growing wheat, barley, sugar beet, rapeseed, potatoes, and other crops. The working capital facility will provide financing for inputs needed for agricultural production to produce agricultural commodities for sale to local clients and international traders. In addition to the working capital facility, the project includes a three year loan to help Mriya improve its waste management and realize energy efficiencies.

Objectives

IFC''s financing will contribute to the development of a large-scale modern farming operation which will improve land productivity and have a demonstration impact on other neighboring farms. Mriya''s land and operations are located in Western Ukraine in the Ternopil, Ivano-Frankivsk, Lviv, Chernivtsi and Khmelnitsky regions. These four regions are amongst the poorest regions in the country. Development impact of the project will be as follows: Employment: Mriya''s investment program and the additional permanent and seasonal employment positions created by Mriya will make a significant contribution to the emergence of economic opportunities for the population in the regions that Mriya operates in. In addition to creating new jobs, Mriya is setting new employment standards in the region by providing benefits to its farm workers such food and housing. Environmental and Social Standards: As part of the Environmental and Social Action Plan (ESAP), Mriya will implement an ESMS to further enhance its environmental and social management. Private Sector Development: Mriya sells its products to a diversified base of final customers and traders. Among them, there currently are about 50 MSME distributors of mainly potatoes and corn, for final sales on the domestic market and 110 trasporters to deliver the grains and crops to the port for export.