The European Bank for Reconstruction and Development (EBRD ) said today (1 October) it is lending EUR1m (US$1.4bn) to Macedonian dairy Mlekara Zdravje Radovo.
The loan, to boost the country’s dairy industry, will also finance expansion of the Mlekara Zdravje Radovo and help diversify its production, the EBRD said.
Zdravje Radovo is one of the top three dairy producers operating in FYR Macedonia, currently supplying over 40 products.
The proceeds of the EBRD funds will be used to finance capital investments aimed at increasing the range of Zdravje Radovo’s products through new value added produce under the company’s brand.
It will also enable the company to expand further into neighbouring countries.
“We are pleased to support a strong local player in the Macedonian dairy industry in its drive to serve consumers high quality and competitively priced products. This transaction will benefit the wider dairy industry in the region through increased competition and stronger linkages with local farmers,” said Gilles Mettetal, EBRD director for agribusiness.