World Bank could grant EUR 28 mln loan to Arabesque

The distributor of construction materials “Arabesque”, operating in Romania, Ukraine and Moldova, could receive a loan worth EUR 28 mln from the International Finance Corporation (IFC), member of the World Bank. The money will be granted for partial financing a project aiming at expanding current activities and for entering the market in Bulgaria and Serbia. According to the Romanian press, Arabesque will receive the financing for the expenses it will have in the next three years. The project of the company amounts to about EUR 90 mln. Also, the private investment of the World Bank will support the Romanian company through a guarantee worth USD 10.5 million related to the purchases of the shares of Budmax, the Ukrainian subsidiary of Arabesque. Arabesque offers a wide range of construction materials through distribution centres in over 30 cities of Romania, Ukraine and Moldova and has over 3000 employees. The company was founded in 1994 with 100% private Romanian capital. It is the national leader in construction and finite materials' distribution. Arabesque operates in Moldova since 2005.