European Parliament issued the following announcement on Aug. 3.
- US$ 15 million loan to a major manufacturer and supplier of retails stores equipment
- Modern-Expo Group to increase production, boost exports sales
The EBRD is supporting operations of one of the largest manufacturers and suppliers of fixtures and equipment for retail stores and warehouses in central and eastern Europe by providing it with a seven-year loan of US$15 million.
The proceeds will be used to increase production volumes at the two principal manufacturing sites in Lutsk (Ukraine) and in Vitebsk (Belarus). The company will also be able to restructure its balance sheet.
Modern-Expo is a privately owned company, which has been operating in Ukraine for over 20 years and expanded to Belarus in 2014. Around 65 per cent of company revenues are generated from export sales to more than 60 countries around the world. It supplies its products to major international retailers including Auchan, Carrefour, Billa, Nestle and many others.
The EBRD is the largest international financial investor in Ukraine. To date, the Bank has made a cumulative commitment of almost €12.1 billion across some 400 projects since the start of its operations in the country in 1993.
Since the start of its operations in Belarus in 1992, the EBRD has invested over €2 billion in 95 projects in various sectors of the country’s economy.
Original source can be found here.
