Lithuania: EBRD, Citadele lend EUR 38 mln to Vilniaus Baldai production facility
2019-06-25, 10:02
Published in
Economy
Photo M. Paluskevic
The European Bank for Reconstruction and Development and Latvia's Citadele Bank have issued a 37.8 mln-euro loan to Vilniaus Baldai, one of the largest furniture producers in Lithuania, reported EBRD. Issued for 8 years, the loan will be used for the construction of a new production facility in Trakai District, the company said. The new building of 73,000 square meters and valued at 50 mln euros is being build by Vilnius construction company Conresta. Vilniaus Baldai sells almost all of its produced furniture to Swedish furniture producer and seller IKEA.
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