Approximately 50% of Ukraine’s 603,000 km² land mass is devoted to agriculture, and Ukraine’s arable land is amongst the finest in the world. It is therefore not surprising that Ukraine belongs to the largest corn producers in the world, and corn exports are an important part of the economy.

Helping producers align with European Directives and improving their cost structure, for example through energy savings, is the dedicated goal of the EU4Business-EBRD Credit Line.

New Corn LLC took advantage of this opportunity and leased a new Tractor New Holland T7060 from the EU4Business-EBRD Credit Line Partner Finance Institution OTPL, obtaining a loan of €64,624.98. The new tractor corresponds with European regulations and is therefore also fully aligned with energy efficiency standards, resulting in environmental improvements, including energy savings of over 53 MWh and CO² emissions reduction of nearly 15 tonnes annually. After the successful project verification, the company received 10 per cent of the loan value as a grant incentive, funded under the EU4Business initiative of the European Union.

In addition, the investment led to better health and safety conditions for workers.