Lithuania: EBRD, Citadele lend EUR 38 million to Vilniaus Baldai production facility

  • 2019-06-22
  • LETA/BNS/TBT Staff

VILNIIUS – The European Bank for Reconstruction and Development and Latvia's Citadele Bank have issued a 37.8 million-euro loan to Vilniaus Baldai, one of the largest furniture producers in Lithuania.

Issued for 8 years, the loan will be used for the construction of a new production facility in Trakai District, the company said.

The new building of 73,000 square meters and valued at 50 million euros is being build by Vilnmius construction company Conresta.

Vilniaus Baldai sells almost all of its produced furniture to Swedish furniture producer and seller IKEA.