The loan will be co-financed with a local bank, while the total costs of Profi’s project amount to RON197.1 million, EBRD said in a statement.
Profi opened 11 stores under the LOCO brand in August, marking the inauguration on the Romanian market of a new Profi concept for rural areas, with products adapted to the needs of the people living in the areas in which the respective stores operate.
The company said it plans to reach 500 units by the end of 2016 and to continue its expansion at a rate of at least 100 new units per year.
Profi currently operates 331 stores in 158 rural and urban localities in all Romanian counties.
The retailer is owned by Polish Enterprise Fund VI, a private equity fund managed by Enterprise Investors.