The European Bank for Reconstruction and Development (EBRD) has issued a seven-year loan of 20 million euros to the Lithuanian business group SBA for the expansion of its Mebelain furniture production facility in Belarus.
The total project is valued at 29.3 mln euros and the money will be spent on new buildings and equipment.
SBA Vice President Egidijus Valentinavicius says Mebelain’s production capacities will double.
“We hope to double the plant’s production capacities after Mebelain’s expansion and increase sales to 70 mln euros,” Valentinavicius said in a statement.
Built for 14 mln euros in the Mogilev Free Economic Zone in 2013, Mebelainproduces furniture and exports it to European countries and Russia. Its turnover stood at 20 mln euros last year, up 38.7% from 2016.
EBRD allocated 5 mln euros in 2010 for the construction of the plant.
