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EBRD lends EUR 50 mln to Polish wholesaler Eurocash

Polish customers will enjoy a wider choice of goods when shopping online thanks to the acquisition of full control over the food retailer Frisco.pl by the leading wholesaler Eurocash S.A. with the help of a loan of up to EUR 50 million provided by the European Bank for Reconstruction and Development, the European bank said in a statement. 

Lewiatan, the largest franchise chain of grocery stores in Poland, belongs to the Eurocash Group. The shops seen here is in Białystok, Polandʼs 10th largest city. Photo by Karolis Kavolelis / Shutterstock.com

The EBRD funds will also address Eurocash’s working capital needs, providing resilience to the company’s balance sheet. As part of the engagement with the EBRD, Eurocash also commits to provide new offers of vocational education and training as well as improved qualification standards.

The spread of the coronavirus and public health restrictions have led to a strong increase in online shopping, the EBRD said in a press statement.

Eurocash S.A. is a Polish corporate group with a number of holdings, including Eurocash Cash&Carry and Eurocash Serwis, as well as the retail chains 1 minute, ABC, Delikatesy Centrum, Groszek, Lewiatan and Mila.