London, England, June 26, 2008--The European Bank for Reconstruction and Development (EBRD) could provide Kronospan Ukr with a EUR 60 million (US$75.4M) )loan, the EBRD said in a press release, according to Interfax News Agency.
The bank's board of directors plans to discuss providing the loan on July 25. Commercial banks could syndicate part of the loan.
The resources are expected to be used to refurbish an existing plant and install two lines to produce woodboards. The total cost of the project is EUR 100 million.
Kronospan Ukr is owned by Kronospan Holding East Limited, which is part of the Kronospan Group, a large producer of wood panels.
The EBRD has financed projects for a total of EUR 2.27 billion in Ukraine as of May 1, 2006. rm
