Belarus-based food retail chain Eurotorg has received a €20m loan from the European Bank for Reconstruction and Development (EBRD) for business expansion.

The food retailer will use the investment to further optimise its debt portfolio by reducing its average cost of debt and extend the repayment schedule.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The retailer, in collaboration with EBRD, will also enhance its corporate governance to strengthen its position as it develops operations in its domestic market and beyond.

Eurotorg CEO Andrey Zubkou said: “This agreement with one of the world’s leading international financial institutions once again underscores Eurotorg’s strong standing as a high-quality borrower with a robust strategy, efficient business model and significant potential for future growth.

“The EBRD is a long-standing partner of Eurotorg, and we are grateful for their continued support.

“Today’s loan agreement marks a logical next step for the company following our successful debut Eurobond in October 2017, and also highlights the growing attractiveness of the Belarusian market.”

“Today’s loan agreement marks a logical next step for the company following our successful debut Eurobond in October 2017, and also highlights the growing attractiveness of the Belarusian market for investors.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Eurotorg currently operates more than 620 stores in 225 cities and towns across Belarus.

In 2012, EBRD granted Eurotorg a senior secured loan to finance its expansion to regional towns in Belarus.

EBRD Belarus office head Alex Pivovarsky said: “The EBRD is pleased to support the operations of Eurotorg, a leading food retailer in Belarus and our long-standing partner.

“We hope that our funding will help the company continue to expand its offering to the benefit of millions of customers across the country.”

EBRD started its operations in Belarus in 1992 and invested more than €2bn in 95 projects in various sectors of the country.