February 3, 2010

EBRD finances Bulgarian meat processing

Boni Holding, the leading meat processor in Bulgaria has received EUR6.5 million (US$9 million) new financing to improve the company's efficiency.

The European Bank for Reconstruction and Redevelopment (EBRD) is providing the multi-million Euro loan to Boni Holding, to support its drive to improve energy efficiency and to bring it into line with EU environmental standards.
 

The proceeds of the loan will be used to complete the second stage of Boni Holding's plant modernisation programme, initiated with the support of the EBRD in 2006. The new financing, a demonstration of the EBRD's commitment to supporting enterprises in Bulgaria, will help the company finalise the refurbishment of pig farms and implement energy efficiency measures at its production facility.

 
In 2006, the EBRD provided Boni Holding with a EUR15 million (US$21 million) loan to finance its investment programme, which included the construction of a new cutting and de-boning hall, and meat processing units in order to increase production efficiency and raise environmental standards.

The additional financing will enable Boni Holding to achieve further improvements and increased efficiency of the production processes in the meat processing facilities and pig farms.

In the agribusiness sector, the Bank has directly committed more than EUR5 billion (US$7 billion) in over 340 projects across central and Eastern Europe and the Commonwealth of Independent States (CIS).