Financed ProjectsFlorina Bulgaria S.A.

Identification Code:

OP/00/0019

Total Operation Cost:

0

Maturity:

66 months

Operation Status:

Description and Purpose of the Operation:

The project finances installation of new lines - fruit puree preparation line, soft drinks production line, extra auxiliary equipment - in the existing facilities of Florina Bulgaria S.A. By establishing the production lines, the company will have a full production cycle in Bulgaria. This will provide cost advantages as a result of utilization of locally available resources. The overall production cost will be further reduced, through elimination of import taxes

Countries of Operation:

Bulgaria (100,00 %)

Financial Product:

Loans

Sector:

Consumer Staples

Domain:

Private

Borrower/Client:

Florina Bulgaria S.A. was established in 1993 to import juices from Florina - A. Honeos S.A. in Greece and distribute them in Bulgarian market. Its business activities cover production and trade of juices, soft drinks and mineral water.

Co-Financiers/Participants:

IFC, ETEBA

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

The proposed operation is in line with the mandate of the BSTDB to finance projects with a strong development impact and contributing to the cooperation among enterprises of the BSTDB member countries. Co- financing is another important aspect in terms of mobilizing local and foreign capital, cooperating in all activities relevant to lending. The project possesses several strengths among which are the long experience of the shareholders in the juice market in Greece and Bulgaria, and the involvement of IFC as a co-financier in the project creating capital flow into the region.

Environmental Classification and Impact (summary):

The overall conclusion of the Environmental Analysis is that Florina facility is in compliance with current environmental requirements and the project activities should not change this status. According to the information reviewed, no major environmental effects are anticipated and therefore the overall impact has been assessed as neutral.

Operation Leader:

General Industries, Transport, Tourism 2

E-mail:

gitt2@bstdb.org