The EBRD is extending a €20 million loan to its long-term client Eurotorg LLC of Belarus, the country’s leading food retailer.
Eurotorg currently operates over 620 stores in 225 cities and towns across Belarus and will use the funds to further optimise its debt portfolio.
The project will include a comprehensive plan aimed at improving Eurotorg’s corporate governance, which will further strengthen its position as it develops its operations in its domestic market and beyond.
The EBRD has been working with Eurotorg since 2012. In a previous project with the company, the Bank provided a senior secured loan to finance Eurotorg expansion to regional towns in Belarus.
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.
