EBRD could finance Lidl's expansion to Romania
The European Bank for Reconstruction and Development (EBRD) is analyzing the possibility to lend up to EUR 200 million for the Kaulfand operations in Poland and Bulgaria and for Lidl's activity in Romania and Bulgaria, according to Bulgarian media. The funding should cover the market entry costs for the two retailers on these new markets. The project will primarily finance Lidl and Kaufland stores in the more remote / rural store locations of the countries. The proposed project will bring new formats of modern retail and the convenience of discounter shopping to large portions of the Polish, Romanian and Bulgarian population in the more remote and rural regions, EBRD said, according to Novinite. Lidl is preparing to work on the first stores in Romania, where it already owns land plots. The retailer is already training the first managers who will run its stores in Romania, sending them to Germany and Croatia, according to local media quoting sources on the recruitment market.