EU: Loan granted to Romanian Euro Drinks Group
The European Bank for Reconstruction and Development (EBRD) is planning to lend Romania's European Drinks Group €195m to fund a long-term investment and expansion programme.
Its aim, said a bank memorandum, was to ensure the drinks and food producer changed from "a family run entrepreneurial company into a well-organised, large corporate".
The money would fund "covenanted improvements in corporate governance and transparency at the group level".
The loan is one of a series planned by the bank in Romania ahead of its anticipated accession to the European Union in 2007.
European Drinks is already certified compliant with international management standard ISO 9001: 2000, and the company is currently introducing HACCP hazard awareness risk management procedures across its departments.
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