Asters has acted as Ukrainian counsel to the European Bank for Reconstruction and Development (EBRD) on secured lending of USD 40 million to the New Europe Property Fund, managed by NCH Capital.
The NCH New Europe Property Fund was created in 2005 and fully invested its capital into real estate and agricultural business in the countries of Eastern Europe and the former Soviet Union. The EBRD was established in 1991 and is 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.
Aster's announced that the financing will be used to provide capital for 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 land management and farming techniques to increase yields. The Asters team advising on the project consisted of Partner Iryna Pokanay, Counsel Gabriel Aslanian, and Associates Yulia Spolitak and Inna Bondarenko.
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