BSTDB extends USD 2.7 million loan to a Bulgarian food company

Press Release | 21-Sep-2000

BSTDB will provide $2.7 million loan to FLORINA BULGARIA S.A. for their $12.5 million investment in Bulgaria. The maturity of the loan is 6 years with 12 month grace period.

The project involves establishing two new production lines for fruit processing and carbonated soft drinks, and extension of auxiliary equipment in the existing facilities of FLORINA BULGARIA S.A. It will allow the company to purchase fruits directly from local producers, reducing costs and contributing to the development of Bulgarian agriculture.

The project is co-financed by International Finance Corporation (IFC) and National Investment Bank for Industrial Development (Greece). 1.2 million, respectively. FLORINA BULGARIA S. A. provides USD 4.5 million equity for the project.

This will be the second co-financing operation between BSTDB and IFC, after the establishment of Trans-Balkan Equity Fund for small enterprises in July this year.

The operation reflects the BSTDB's strategy to invest in projects with a strong development impact and contributing to the co-operation among enterprises of its Member Countries.

FLORINA BULGARIA S.A. was established in November 1993 in Sofia by Greek and Bulgarian partners. Its business activities cover production and trade of juices, soft drinks and mineral water.