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EBRD loans EUR 20 mln to Lithuania's SBA for Belarusian expansion
BC, Vilniaus, 23.07.2018.
Print version
Print versionThe European Bank for Reconstruction and Development (EBRD) has issued a seven-year loan of 20 million euros to the Lithuanian business group SBA for the expansion of its Mebelain furniture production facility in Belarus, informs LETA/BNS.
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| Photo: sba.lt |
The total project is valued at 29.3 mln euros and the money will be spent
on new buildings and equipment.
SBA Vice President Egidijus Valentinavicius says Mebelain's production capacities will
double.
"We hope to double the plant's production capacities after Mebelain's expansion and increase sales
to 70 mln euros," Valentinavicius said in a statement.
Built for 14 mln euros in the Mogilev Free Economic Zone in 2013, Mebelain produces furniture and exports
it to European countries and Russia. Its turnover stood at 20 mln euros last
year, up 38.7% from 2016.
EBRD allocated 5 mln euros in 2010 for the construction of the plant.
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