€10.5 million loan to Bulgaria’s Boni Holding

By Axel  Reiserer

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The EBRD is providing Boni Holding JSC, one of Bulgaria’s integrated meat producers, with a €10.5 million loan to finance the further development of the company. Boni operates two meat processing plants and five pig farms. The company’s meat processing facilities apply stringent standards, in line with EU requirements.

The new investments will underpin Boni’s long-term strategy to strengthen efficiency, increase capacity and improve the quality of its production process. Part of the EBRD loan will be invested for the preparatory steps towards the design of a new, state-of-the-art slaughterhouse. Higher domestic output will reduce Bulgaria’s dependence on meat imports. At the same time, higher quality products will satisfy growing customer demand.

Under the development plan Boni will implement production standards which exceed new and more stringent EU animal welfare regulations. The adoption of these standards will lead to improved conditions in livestock production. The EBRD loan commits the company to continue operating to these standards, while the introduction of an extensive monitoring system will guarantee the best possible feed quality.

Giles Mettetal, EBRD Director, Agribusiness, said: “Our support for Boni will further strengthen and improve an already very impressive company. Increasing Boni’s capacity will also improve food security in Bulgaria, as currently domestic meat production does not meet local demand and the country is a net meat importer. Experience has shown that the establishment of strong local producers also has favourable impacts on local suppliers through increased demand and the transfer of standards.”

Borislav Nikolov, owner of Boni Holding JSC, added: “For many years Boni has been working, and will continue to work, on the modernisation and optimisation of pig breeding and meat processing. We are grateful to the EBRD for their trust in us. This is our third joint project, and I believe there is much more to come to help develop modern breeding and meat processing operations in Bulgaria, which will create jobs and substitute a large share of meat imports with high quality meat produced locally.”

To date, the EBRD has financed over 200 projects in Bulgaria, with a total volume of more than €8.5 billion. The Bank is focused on strengthening sustainable growth, through a focus on enhancing local business competitiveness and investing in the modernisation of the country’s real economy and infrastructure.

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