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August 11, 2016updated 10 Apr 2021 5:42pm

Macedonia’s Vitaminka gets EBRD cash for chocolate expansion

Vitaminka, the Macedonian food group, is to use finance from the European Bank of Reconstruction and Development, to expand its chocolate range.

By Dean Best

Vitaminka, the Macedonian food group, is to use finance from the European Bank of Reconstruction and Development, to expand its chocolate range.

The bank said it is providing a EUR2m loan to finance a new “chocolate-flavoured product line” and the construction of a new warehouse.

In a statement, Sasho Naumoski, Vitaminka’s general manager, said: “Part of our growth relies on investing in new equipment. This results in improvement of product quality. It is crucial to keep up with the rapidly changing world and this new investment backed by the EBRD is a step towards achieving this goal.”

The EBRD, which has leant EUR9.5m to Vitaminka for various projects, is weighing up another EUR4m of finance for further investment in chocolates and soft biscuits.

Vitaminka exports over 45 per cent of its output, with its major markets including other countries in the Balkans like Serbia, Croatia, Bosnia and Herzegovina, Slovenia, Kosovo, as well as Australia and the US.

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