EBRD to give €100m loan for wood processing factory in Belarus

        The European Bank for Reconstruction and Development (EBRD) will issue a €100 million loan for the Kronospan company for the construction of a wood processing factory in Belarus. The sides signed agreements on the issuance of two separate long-term loans worth up to €190 million for the leading world producer of chipboards Kronospan. This money will be used to construct two new manufacturing enterprises in Russia and Belarus. The cost of the construction of the Kronospan factory will total €200 million. The factory will focus on the production of oriented strand boards (OSB) which are widely used in construction. The capacity of the factory is estimated at 500,000 square maters of OSB per year. This will be the third factory of the Kronospan company in Belarus which is financed by the EBRD. The financing of this project will be carried out with the help of the EBRD loan worth up to €100 million for the term of up to eight years.