EBRD BULGARIA
January 1st, 2005
BY KEITH NUTHALLTHE EUROPEAN Bank for Reconstruction and Development (EBRD) is lending French wine group Belvedere Euro 9 million to break into the Bulgarian market, paying for it to reconstruct existing wineries and to acquire vineyards. The bank said the loan would "support (Belvedere) in the process of becoming one of the biggest local players in the wine sector and (in) increasing its export sales". The French group intends to produce approximately 30% of the grapes it needs in Bulgaria from its own vineyards, which will, said the EBRD, "allow it to set and ...
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