German discount retail giant LIDL & Schwarz, whose businessstands at about 55 billion euros, got the approval of the EBRDboard for a 200 million-euro loan to finance the launch of the LIDLhard discount store chain in Romania, among others, scheduled for2011.
These resources will cover half of the group's investments in thefirst LIDL openings in Romania and Bulgaria and in the developmentof the discount hypermarket chain Kaufland on the markets of Polandand Bulgaria. Contacted by ZF, the EBRD representatives did notprovide any details about the amount allocated to the LIDL Romaniaproject by the time the story was ready for print. The network isalready building the first stores on the domestic market, and ownsmore than 20 or 30 plots in Romania, according to market data. LIDLwill officially launch in Romaina by opening more than 10 stores atonce, the model the operator uses on every new market itenters.
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