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VF Komerc receives €25 million from EBRD
Retail chain in BiH to expand and upgrade existing stores
VF Komerc, a retail chain in Bosnia and Herzegovina, has received a €25
million financing package from the EBRD to help refurbish existing stores and
expand throughout the country through new store acquisitions. The Bank is
lending the company €16 million, with €9 million being used to acquire an
equity stake.
The EBRD’s finance will help VF Komerc strengthen its position in the local
food retail market and help it develop a more modern retail format in Bosnia
and Herzegovina, providing more consumers with better quality products.
Hans Christian Jacobsen, EBRD Director for Agribusiness, said this investment
is important as it provides long-term support directly to a successful local
company, and will have a demonstrative effect for other local entrepreneurs.
Aygen Yayikoglu, Head of the EBRD office in Bosnia and Herzegovina, added that
the Bank’s investment will also have significant economic benefits, as it will
help to boost employment in the sector.
This latest project will bring the total EBRD investments in Bosnia and
Herzegovina to €530 million. The EBRD’s investments in the agribusiness
sector across its 27 countries of operations, to date total around €4 billion
and cover over 250 projects.
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