Menznau, Switzerland, October 6, 2006---The European Bank for Reconstruction and Development (EBRD) could organize a syndicated loan totaling 35 million euros for the development of woodworking production at Poland's Kronospan plant in the Moscow region town of Yegorievsk, the EBRD said in a release, according to Interfax News agency.
The terms of the financing stipulate that the EBRD will directly provide 21 million euros, while the remaining amount will be syndicated with the participation of commercial banks.
The money will be spent on a three-fold increase in production at the plant.
Kronospan is a Polish group comprised of ten plants that produce particle boards, medium density fibreboard and flooring materials for furniture production.
