On May 14, the International Finance Corporation (IFC) and the agro-industrial holding Astarta signed an investment agreement in Kyiv to build Ukraine’s first plant for producing soy protein concentrate. The total financing amounts to $40 million, including a $27 million direct loan from IFC and $13 million in concessional financing from the Government of the Netherlands. This investment is part of a financing package of up to $80 million approved by the IFC Board of Directors on April 1, 2025.
IFC’s financing is backed by guarantees from the European Commission under the Ukraine Investment Framework and from the Government of the Netherlands, in support of IFC’s Economic Resilience Action (ERA) program for Ukraine. This is a prime example of effective partnership between the state, the private sector, and international financial institutions to support Ukraine’s economic recovery.
“Today’s agreement shows that despite the war, it is possible to grow a business in Ukraine, attract international financing, and build stable, predictable cooperation with investors. This is the result of what we’ve been doing over the past three years—creating opportunities and conditions for investment, even in such difficult times for our country. We thank our international partners for their support, and the Ukrainian business community for their consistency, ambition, and patience. This investment represents a step forward in the evolution of Ukraine’s economy, bringing us closer to full integration into the European market. We expect even more such projects in the future,” said Taras Kachka, Deputy Minister of Economy.
The plant will produce soy protein concentrate—a product used in the feed of all types of livestock, poultry, and fish. As one of the world’s leading agricultural producers, Ukraine is well positioned to develop its processing sector. This project will support a transition from raw material exports to the supply of value-added products.
The project is expected to have a multiplier effect on the economy, including:
- $680 million in annual foreign exchange earnings
- $116.5 million annual contribution to the economy, including taxes
- Around 3,000 direct and indirect jobs
- Expansion of the supplier base for local farmers
- Production of soybean molasses for use in biogas plants
“This investment is an example of how strategic international partnerships can turn challenges into long-term opportunities for Ukraine. By launching the country’s first soy protein concentrate production facility, we are integrating Ukraine into global food supply chains, supporting economic recovery, modernizing industry, and creating new jobs. Astarta is implementing this project as part of its sustainable agribusiness development strategy,” said Viktor Ivanchyk, Founder and CEO of Astarta.
Throughout the investment process, IFC provided advisory support to Astarta. In cooperation with the Government of the Czech Republic, IFC will also assist Astarta in conducting market and marketing research in Ukraine and provide guidance on community engagement, youth support, and reintegration of older workers and veterans. These efforts aim to create a more resilient labor market and a healthier social environment—especially important given the acute human capital shortages caused by wartime challenges.
“These investments will help Ukraine produce agricultural goods with greater added value and move up the food production chain. By making the sector more competitive and more closely integrated with European markets, we aim to support the country’s recovery, generate new jobs, and strengthen its resilience,” said Alfonso Garcia Mora, IFC Vice President for Europe, Latin America, and the Caribbean.
The International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. Operating in over 100 countries, IFC uses its capital, expertise, and influence to build markets and create opportunities in developing economies.
Since the start of the full-scale invasion, IFC has invested $2.2 billion to support Ukraine’s private sector, including $760 million in mobilized capital through the ERA program. These efforts are part of the World Bank Group’s broader support package that has helped over 15 million Ukrainians.
Astarta is a vertically integrated agro-industrial holding in Ukraine, a publicly traded European company that operates responsibly and produces food products for global markets. Its core operations include crop production, sugar manufacturing, dairy farming, soybean processing, grain logistics, and bioenergy.
