The European Bank for Reconstruction and Development (EBRD) has granted a EUR 23 million loan to the Turkish company ETI to co-finance its biscuits and cakes plant in Craiova, through a total investment worth EUR 40 million, the EBRD announced yesterday. The plant in Craiova (Dolj county) is ETI's first investment outside Turkey.

"The manufacturing plant in Craiova will be one of the most advanced factories in Europe in terms of the technology used. The plant will produce high quality confectionery for both local and international markets," said Firuzhan Kanatlı, President of the Administrative Board of ETI European Food Industries, the Romanian branch of the Turkish company.

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