EBRD will grant Polish Velvet Care EUR 24 mln loan to boost production

Initiatives

Photo by Robson90 / Shutterstock.com

The European Bank for Reconstruction and Development (EBRD) announced it will grant Polish tissue hygiene products manufacturer Velvet Care a EUR 24 million loan to develop and increase production. 

Velvet cotton buds, part of the Velvet Care range. Photo by Robson90 / Shutterstock.com

The company will have a parallel support from BNP Paribas Polska, the EBRD said. The financing is part of a wider investment program that includes the expansion of production facilities. The EBRD will also provide grant financing for an assessment of the potential to produce tissue from recycled fibres.

Velvet Care is a market leader in Poland with main products such as toilet paper, paper towels and various tissue products. It is owned by Abris Capital Partners, a private equity fund active in Central and Eastern Europe.

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