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Financial Times: Ukraine close to inking $3 billion loan-for-corn deal with China

Author: Financial Times All articles by this author

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Sep. 20, 2012 08:11
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Ukraine is set to sign an unusual loan-for-crops contract with China that will see Kyiv access $3 billion in credit lines in exchange for supplies of corn, a commodity that Beijing has started to import in large quantities.
Photo by AFP

Ukraine is set to sign an unusual loan-for-crops contract with China that will see Kyiv access $3 billion in credit lines in exchange for supplies of corn, a commodity that Beijing has started to import in large quantities.  

The deal expands into food the scheme that Beijing has used to secure energy supplies through so-called oil-for-loans deals with countries such as Venezuela, and comes amid concerns about global food security.

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