The proceeds of the loan will be used to complete the second stage of Boni Holding’s plant modernisation programme, initiated with the support of the EBRD in 2006.

The new financing, a demonstration of the EBRD’s strong commitment to supporting enterprises in Bulgaria, will help the company finalise the refurbishment of pig farms and implement energy efficiency measures at its production facility.

In 2006 the EBRD provided Boni Holding with a €15 million loan to finance its investment programme, which included the construction of a new cutting and de-boning hall, and meat processing units in order to increase production efficiency and raise environmental standards.

The additional financing will enable Boni Holding to achieve further improvements and increased efficiency of the production processes in the meat processing facilities and pig farms.

“This project reinforces the EBRD’s commitment to support the development of private businesses with strong vision in the current challenging market conditions. We are pleased to continue our successful relationship with Boni Holding and help the company raise further its production and environmental standards”, said Gilles Mettetal, Director of the EBRD Agribusiness Team.

Boni Holding began meat trading and processing in 1991 and subsequently expanded to become one of the leading companies in the sector in Bulgaria. Boni specialises in pig breeding and pork meat processing and is market leader in raw-dried products, owning some of the leading brands.

Since the beginning of the EBRD operations in Bulgaria, the Bank has committed €2 billion in more than 120 projects in key sectors of country’s economy, mobilising additional investment worth more than €6.7 billion.

In the agribusiness sector, the Bank has directly committed more than €5 billion in over 340 projects across central and eastern Europe and the CIS.