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EBRD backs Delhaize in Romania

Bank grants a major loan to Belgian retailer to help expansion plans in Romanian market

EBRD backs Delhaize in Romania

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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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