IFC Will Lend Serbia’s MK Group 45 Million Euros for Expansion

The International Finance Corporation (IFC), the World Bank’s private sector lending arm, will lend 45 million euros ($56.3 million) to MK Group d.o.o., a Serbian foodmaker, to modernize and expand production.

Part of the long-term financing will also be used to upgrade meat producer and grain trader Carnex AD, which MK Group acquired in November, the IFC said in an e-mail today.

The loan agreement, to be signed tomorrow in Belgrade, should help Serbia, where agriculture accounts for about a fifth of economic output, increase its food production and exports, the lender said.

To contact the reporter on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net

To contact the editor responsible for this story: Alan Crosby at acrosby1@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.