The European Bank for Reconstruction and Development (EBRD) has thrown its weight behind Belgian retailer Delhaize as it looks to invest in the Romanian retail market.
EBRD has granted a €210m syndicated loan to the retailer to finance the development of up to 17 large and medium-sized hypermarkets in Bucharest and regional towns, Business Review reported.
The funding facility includes a portion of up to €140m from the EBRD's own account, as well as a portion of up to €70m syndicated to ING and Rabobank.
The retailer has been present in Romania since 2003, and currently operates eight hypermarkets under its Cora brand.
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