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SOFIA (Bulgaria), January 23 (SeeNews) - The European Bank for Reconstruction and Development said that it is providing $100 million (90.2 million euro) financing to Louis Dreyfus Company to finance the working capital needs of the agricultural group's units in eight countries, including Bulgaria and Romania.
"The expansion will provide access to LDC’s supply chains to many regional small and medium-sized grain and cotton farmers, which is important for their development and planning activity," the EBRD said in a statement on Wednesday.
Small farms will also receive training on modern agronomic practices as part of their cooperation with LDC, in order to improve the quality of their produce. In addition, the programme will support cross-border trade flows and the expansion of the agricultural commodities market, the EBRD noted.
The investment will also support the adoption by Louis Dreyfus Company of an enhanced climate corporate governance approach.
Louis Dreyfus Company is active in over 100 countries worldwide, originating, processing, merchandising and transporting approximately 80 million tons of products annually.
($ = 0.9021 euro)