- Seven-year €7 million loan to Lean Group of Belarus
- Investment to support capital expenditure, working capital
- Latest EBRD transaction with Priorbank under Risk Sharing Facility
Lean Group, a Belarusian plastic packaging manufacturer, will benefit from the latest joint transaction between the EBRD and Priorbank with a €7 million provided jointly by the two financial institutions. The EBRD will share half of the risk on the loan made by Priorbank under the EBRD Risk Sharing Facility (RSF).
The company is a manufacturer of specialised tubes for the cosmetics industry. Established in 1999, is a leading producer and supplier of laminate and extrusion tubes for major domestic as well as international companies such as Unilever, Neva Cosmetics, Johnson & Johnson, Amway, Beiersdorf, Yves Rocher and Oriflame operating in the CIS region.
The EBRD and Priorbank have been supporting the needs and operations of domestic businesses in Belarus by providing them with working capital, helping them restructure their balance sheets and improve their efficiency in a series of transactions.
Priorbank is the largest privately-owned financial institution in Belarus and a member of Raiffeisen Bank International. It has a well-developed network across the country and has been one of the EBRD’s key partners in promoting new products and programmes for over 20 years.
Since the start of its operations in Belarus in 1992, the EBRD has invested almost €2.8 billion in 126 projects in various sectors of the country's economy.