The European Bank for Reconstruction and Development (EBRD) has said it will support Ukrainian pet food producer Kormotech Group to expand its domestic and international operations with a loan up to EUR 10 million.
The funds are part of a wider investment program, which includes the construction of a new production facility in Lithuania and the expansion of the Kormotech’s activities in Ukraine, according to EBRD.
As part of the project, Kormotech will support the expansion of specialized veterinary education across Ukraine to improve the job prospects of young professionals from remote areas.
Kormotech Group is one of the top three market players in the Ukrainian pet food market and the first and largest Ukrainian producer of high-quality pet food for cats and dogs.
The company is privately-owned and has grown rapidly since its establishment in 2003. Today the company sells its products in 25 countries, the EBRD says.