A producer of ice cream and frozen semi-finished products, Three Bears, has begun its expansion into Europe. For this purpose, the company took an unsecured loan for UAH 210M from Raiffeisen Bank under the Export Credit Agency (ECA) insurance coverage. After expanding its services to Poland, the company plans to enter markets in other European countries.
It should be noted that the loan issued to the company becomes the largest in the ECA portfolio this year and the first for Raiffeisen Bank in cooperation with the agency. The ECA predicts that as a result the country will receive UAH 600M in export earnings and, therefore, a corresponding inflow of foreign currency and tax revenues to the state budget. ECA’s insurance liability to Raiffeisen Bank amounts to UAH 178.5M.