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Nov 14, 2023 18:02 EEST
November 14 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Tuesday that it has signed a 100 million euro ($107.3 million) loan agreement with Dutch company Big CEE to finance the development, upgrade and acquisitions of modern retail parks and shopping centres in Serbia and the Western Balkans.
The total project cost will be 150 million euro, the EBRD said in a project summary document.
The aim of the investment is to enable the company to expand its portfolio of modern retail parks and shopping centres in the Western Balkans region, it added.
All buildings to be financed with the EBRD loan are expected to achieve the green building certification scheme.
Big CEE BV is a subsidiary of Israel's Big Shopping Centers. Founded in 1994, Herzelia-headquartered BIG Shopping Centers operates in Israel, the US, France, Serbia and Montenegro.
Big CEE holds and operates eleven shopping centres in Serbia and two in Montenegro.
($ = 0.9322 euro)
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