November 9 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Friday it joined forces with Addiko Bank Croatia to provide a 30 million euro ($34.1 million) financial package to Croatian fasteners manufacturer DIV Group.
The banks will provide 15 million euro loans each for investments into energy efficiency measures, the provision of more sustainable working capital and support for balance sheet restructuring, the EBRD said in a statement.
The EBRD loan comes under the Bank’s Direct Finance Framework, a facility to meet the growing business needs of local enterprises to finance their expansion and growth, the lender said.
DIV Group is a leading producer of bolts, screws and fasteners. It has two production sites in Croatia and also runs facilities in Serbia and Bosnia.
The company exports around 90% of its products and has become a supplier to global manufacturers of equipment for railway-related products, the automotive industry and other sectors.
($ = 0.880988 euro)
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