- EBRD is thinking about approving the loan of up to 70m EUR for development of retail network of company "Idea" in Serbia - the creditor announced.

The funds from the loan would also be used for financial restructuring of the company. As European Bank for Reconstruction and Development (EBRD) explained, the project would support regional investor in Serbia and development of its retail network, especially outside Belgrade where modern retailing is still at low level.

Also, realization of the project would contribute to improvement of relations with local suppliers.

Total value of the project is estimated to 120m EUR and EBRD, if it decides to approve the loan, will approve the long-term corporate loan in amount of 70m EUR, 35m EUR of which would be taken from the bank’s account and the rest would be taken from the accounts of the banks that participate in the loan.

"Idea" is owned by Croatian concern "Agrokor", the leading manufacturer and distributor of food products and one of the leading retail companies in southeast Europe.