EBRD lends 25 mln euros to Kazakhstan's TBF Holding Group for agricultural exports

ASTANA. Sept. 3 (Interfax) - The European Bank for Reconstruction and Development (EBRD) will provide up to 25 million euros to TradeAgra and affiliated companies within the TBF Holding Group to finance agricultural exports, the bank said.

"This facility will provide seasonal working capital to support the group's procurement, processing, storage, transport and exports of agricultural commodities," the bank said.

The funding is expected to help the group increase trade in organic agricultural crops in Kazakhstan, promoting soil health, lowering fertilizer use and encouraging more sustainable farming practices.

The project will be supported by a 500,000 euro investment grant under the EBRD's Agrifood Nexus program, funded by Germany through its International Climate Initiative.

"EBRD-supported technical cooperation will help to make agricultural supply chains more sustainable and inclusive. This will include training programs for company staff and supplier farmers, targeted outreach to women farmers, and the introduction of more inclusive procurement practices," according to the statement.

TradeAgra is a Kazakh company specializing in wholesale trade of grain, seeds and animal feed, and is part of the TBF Holding group, one of Kazakhstan's leading privately owned agricultural commodity traders.

The EBRD has invested more than 11.7 billion euros in Kazakhstan across 358 projects, with most of the funds supporting private-sector development.