Belgium-based retailer Louis Delhaize has secured a loan of up to EUR210m from the European Bank of Reconstruction and Development for its expansion in Romania.
Louis Delhaize is planning to build up to 17 hypermarkets throughout the country, CEO François Bouriez said. The retailer’s Cora chain has eight hypermarkets in Romanis.
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“Louis Delhaize is happy to continue its investments in Romania, which is now becoming an important market. Louis Delhaize appreciates the continued support of the EBRD in its investments in the region,” Bouriez added.
EBRD president Thomas Mirow said the loan was “a sign of confidence in the Romanian economy”.
“This project will benefit Romanian regions by providing stable market outlets for the local farming sector, and by generating new employment opportunities for local people. It will also bring a quality service and a wide range of products at competitive prices to smaller towns in Romania,” he said.
