PROJECT

Projects

Summary of Investment Information

Project Number

32799

Company Name

Euroterm ZAO

Date SPI Disclosed

Apr 1, 2013

Country

Armenia

Region

Europe

Projected Board Date

May 1, 2013

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Dec 1, 2022

Department

Regional Industry MAS LAC & EUR

Industry

Agribusiness and Forestry

Previous Events

Approved : May 15, 2013
Signed : May 24, 2013
Invested : Aug 29, 2013

Sector

Fruit and Vegetable Preservation or Processing (Canning, Freezing, Drying, Jams, etc.)

Project Description

The Project consists of providing up to US $2.5 million A Loan to CJSC Euroterm (“Euroterm” or the “Company”). Euroterm is the leading Armenian producer of fruit juice, concentrate and preserved food. In addition, the Company provides heating system installation services.

The Company has recently expanded its capacity in fruit concentrate and tomato paste processing. Euroterm has already financed the expansion with short- term loans as a bridge financing. The proposed investment entails providing a corporate loan to Euroterm, to be utilized for refinancing part of its existing debt and for additional working capital requirements to support the Company’s growth.
.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation