EBRD could grant 34 million euro loan to food company Al Dahra Serbia
BELGRADE (Serbia), June 22 (SeeNews) – The European Bank for Reconstruction and Development (EBRD) plans to grant a 34 million euros ($ 40 million) loan to the Serbian unit of the agribusiness company UAE-based Al Dahra, she said. .
The loan proceeds will enable Al Dahra Serbia to finance a € 119 million investment in crop improvement, a new alfalfa plant, an animal feed plant and the modernization of its dairy farms, EBRD said in a project summary document last week.
The investments are aimed at improving and optimizing the farms of Al Dahra Serbia, in particular by considerably expanding the irrigated area and modernizing its dairy farms with the aim of improving milk quality and milk yield through the replacement of old farms. state-of-the-art dairy products, EBRD said.
The loan approval date was set for July 21, according to the document.
Al Dahra Serbia is a vertically integrated agribusiness company involved in primary agricultural activities, animal husbandry and dairy farming.
In 2019, Serbia signed a contract for the sale of the agricultural company Poljoprivredna Korporacija Beograd (PKB) to Al Dahra. The UAE-based company won the tender for the acquisition of PKB held in September with a cash bid of € 105.05 million for the company’s assets.
($ = 0.8405 euro)