MHP: Is compliance with Ukrainian law satisfactory for the EBRD?
Publisher: CEE Bankwatch Network
Volume: 5 pages, pdf
Description:
Ukraine’s monopolist poultry producer, MHP, has received three loans from the EBRD. Investments from public banks including the EBRD, the European Investment Bank, the International Finance Corporation and export credit agencies like Atradius now amount to more than half a billion euros. The company also benefits from generous state subsidies and from a quota for poultry exports to the EU as part of its Association Agreement. In spite of this massive backing by public financial sources, the company does not implement relevant EU and EBRD standards, and the EBRD has said it is satisfied that the company’s operations are in compliance with national law, which is anyway not the case at present.