BSTDB and IIB Help Greek Dairy Producer to Expand in the Region
News | 29-Apr-2016
The Black Sea Trade and Development Bank (BSTDB) is supporting the regional expansion of Tyras Group, a leading Greek producer of dairy products. BSTDB is providing EUR 28 million and the International Investment Bank (IIB) is contributing EUR 22 million for a period of seven years to finance the development program of the Group’s subsidiaries in Bulgaria and Romania.
The loan will allow the Group to expand its production facilities, increase efficiency and competitiveness and fuel its exports to the countries of the Black Sea region and beyond. The Operation will also generate new job opportunities in Bulgaria and Romania.
Commenting on the deal, Ihsan Ugur Delikanli, BSTDB President, said: “In addition to its development impact and contribution to the growth of regional trade, this operation will improve the Tyras Group’s environmental performance and product quality. It is our first joint financing with IIB, and we look forward to strengthening synergies to better-serve the development needs of our common member countries”.
BSTDB has been supporting Tyras S.A since 2012. Over the period, the Bank has provided two loans totalling EUR 40 million to finance the company’s expansion in Romania.