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Up to EUR 150 million for expansion of Kaufland in Bulgaria and Romania |
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The EBRD is considering making a loan of up to EUR 150 million to Kaufland in Bulgaria and Romania, to finance the expansion of its compact discounting hypermarket format in these countries.
The expansion will mainly focus on small and medium sized towns. The project is the third in regional co-operation to finance the Schwarz Group’s strategic expansion.
This project was categorised B under the EBRD’s Environmental and Social Policy 2008.
The Bank will monitor the Companies’ environmental and social performance for the lifetime of the loan through annual environmental and social reporting and via periodic site visits. The Companies will be required to immediately notify the Bank of any incidents or accidents likely to have an effect on the environment or worker and public safety.
This section of the PSD will be revised upon completion of the Bank’s due diligence.
Source and full text: http://www.ebrd.com/projects/psd/psd2009/40305.htm
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