LIDL wants loan from EBRD for its first openings in Romania

Germany’s Schwarz group, with 55bn-euro turnover in Europe, could get a 200m-euro loan from the EBRD for Kaufland or LIDL store openings in Romania, Bulgaria and Poland in September, reads a report by the banking institution.
The loan should cover half of the investments the retailer plans to operate to expand its networks on the three markets. Domestically, the EBRD is likely to fund the construction of the first LIDL stores or the company’s land acquisition for the coming years’ openings.
Schwarz currently owns 53 Kaufland discount hypermarkets in Romania and has prepared to launch LIDL network on the market since 2007, with the first stores set to be opened next year.
LIDL Romania has already set up the first construction sites, currently owning 20-30 plots of land for the future stores, with the official launch of the network being scheduled for next spring, according to market data. Investments can be estimated at one million euros per store.