The European Bank for Reconstruction and Development (EBRD) is currently analysing an EUR 23 million long-term loan for ETI European Food Industries, the Romanian subsidiary of Turkish group Eti Gida Sanayi ve Ticaret, to finance the construction of a new pastry factory near Craiova.

The total cost of the project is EUR 39 million. The Turkish group also received a state aid of about EUR 6 million for the new factory, which will create 300 new jobs.

EBRD’s board will discuss this loan on November 11, the financial institution has announced.

editor@romania-insider.com