EBRD and IFC boost retail sector in Western Balkans

The European Bank for Reconstruction and Development and International Finance Corporation have agreed €164 million in loans to the investment firm Hystead to boost the retail sector in Serbia, Montenegro and FYR Macedonia. The financial package includes a €60 million loan from the EBRD and a €104 million loan from IFC. IFC's financing includes a €60 million A loan from IFC's own account and a loan of €44 million from IFC's Managed Co-Lending Portfolio Program.

The funds will refinance an existing loan and improve the company's capital structure. They will also support the expansion and upgrade of the three shopping centres.