The Austrian arm of global retailer Spar International is seeking a EUR25m (US$35m) loan in a bid to expand in Croatia.
The European Bank for Reconstruction and Development (ERBD) said today (3 June) that it is “considering” providing the long-term loan, which it said will “enhance competition in the retail sector in Croatia”.
The ERBD said the loan will support “a medium-sized local retailer” seeking to develop hypermarkets in Croatia and expand in secondary cities.
The bank said it would back a project “supporting the regional development of the country”, as opposed to only capital cities where the majority of retailers based their operations.
The bank said the decision is pending and a decision is expected to be made by the board on 30 June.
