World Bank continues to finance Lidl and Kaufland expansion in Romania, new 60 mil. EUR loan | Progresiv

German Schwarz Group has recently received a 350 million euro loan from the World Bank to finance Lidl and Kaufland expansion in Romania, Serbia, Poland, Bulgaria and Croatia, according to IGD research & consultancy company. From this loan, 60 million euro will be allocated to finance the expansion projects in Romania.

Over the last decade, Lidl and Kaufland have benefited from almost 800 million euro loans from two major financial institutions funded by taxpayers and owned by Governments: World Bank (through IFC) and the European Bank for Reconstruction and Development (EBRD).

In Romania, Kaufland is already the biggest food retailer in terms of sales and has the widest geographic coverage of all the hypermarkets chains active here, with more than 100 locations. The retailer registered a turnover of approx. 8 bn Ron (1,8 bn EUR) in 2014.

Lidl discounter has 187 stores in Romania and a turnover estimated at more than 3,3 bn Ron (almost 800 mil. EUR) for 2014.