Lidl Romania wants a new loan from EBRD to finance its expansion | Progresiv
The European Bank for Reconstruction and Development (EBRD) announced that examines the application submitted by German group Schwarz for a syndicated loan of 180 million euros which would finance the expansion of discount chain Lidl in Romania and Bulgaria, as well Kaufland chain of hypermarkets in the Moldova. 
Of this amount, the EBRD loan would cover 110 million euros, the rest of the funds coming from other financial institutions whose names have not been disclosed. EBRD decision regarding the approval of the new finance will be made in early April 2017.
Schwarz Group received a credit from EBRD to finance the Lidl chain in Romania, in 2011, a year after the Plus discount stores acquisition from Tengelmann group. Its value was of 67 million euros.
Lidl currently operates 204 stores in Romania and the expansion plan announced this year aims at 10 to 11 openings.
The company ended 2015 financial year with a turnover of 4.49 billion lei (1.01 billion euros) and a profit of 171 million lei, up by 286% over the 2014 result, which places Lidl on the third position among the largest retailers by turnover.
Lidl is one of the largest retail chains in Europe, operating in 27 European countries and with over 140 logistics centers ensuring supply to about 10,000 stores.
With more than 215,000 employees, Lidl is among the top 10 food retailers worldwide.
