BUSINESS

EBRD extends 25 mln euros loan to copper producer Sofia Med

TAGS: Industry, Banking

The European Bank for Reconstruction and Development (EBRD) has extended a 25 million euros ($28.6 million) loan to Bulgarian copper producer Sofia Med, unit of Greek Elvalhalcor, the bank said on Monday.

Several banks are extending parallel financing as part of a 85 million euro long-term joint financing package that will help Sofia Med set up a new research and development unit and develop new higher value added copper products, the EBRD said in a statement. [Reuters]

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