Asters has acted as a Ukrainian law counsel to European Bank for Reconstruction and Development (EBRD) on secured lending in total amount of USD 40 million to New Europe Property Fund L.P. managed by NCH Capital Inc.
The financing will be used for working capital needs of the Fund's agricultural operations in Ukraine. The beneficiaries of the loan are expected to be 30 Ukrainian agricultural enterprises. The project is aimed at improving the land management and farming techniques to increase the yields.
The team advising on the project consisted of Asters partner Iryna Pokanay, counsel Gabriel Aslanian, and associates Yulia Spolitak and Inna Bondarenko.
* * *
NCH New Europe Property Fund L.P. was created in 2005 and fully invested its capital into real estate and agricultural business in the countries of Eastern Europe and former Soviet Union.
EBRD was established in 1991 and became the largest financial investor in Central Europe, Central Asia and the Southern and Eastern Mediterranean. It is owned by 64 countries, the European Union and the European Investment Bank.