EBRD loan set to provide expansion for Vitaminka

Currently, Vitaminka is one of the biggest agribusiness companies in Macedonia and they have just been boosted by the news that the European Bank for Reconstruction and Development (EBRD) will be providing them with a loan. Vitaminka is currently working on a new chocolate-flavoured product as well as the production of a new warehouse and a €2 million loan form the EBRD is going to go towards these costs.

For many years, Vitaminka has been providing the Macedonian public with chocolate snacks and crisps and the company has become important to the success of the Macedonian economy. In addition to business at home, it has also become a huge exporter with just under half of its products reaching Serbia, Croatia, Kosovo, Slovenia and more. In addition to this, the US and Australia have both increased their orders in recent years.

Head of Agribusiness for Southeast and Central Europe at the EBRD, Miljan Zdrale, has said “Vitaminka doesn’t rest on its laurels – it keeps expanding, investing in new production lines and exploring new geographies for exports. We are pleased to see Vitaminka succeed and are proud to be part of its success story. Helping to boost the competitiveness of companies such as Vitaminka is at the heart of the EBRD’s business model. Providing a new loan to this successful company is almost as tempting as tasting its delicious chocolate.”

Head of EBRD’s Skopje office, Anca Ioana Ionescu, added “The signing of the new loan is a testimony to the EBRD’s support for the Macedonian real economy and an expression of trust in the potential of Macedonian companies.”

Finally, the General Manager of Vitaminka has said “Vitaminka’s success stems from 60 years of tradition, continuous modernisation, product innovation as well as reasonable pricing policy. Part of our growth relies on investing in new equipment. This results in improvement of product quality. It is crucial to keep up with the rapidly changing world and this new investment backed by the EBRD is a step towards achieving this goal.”

For the EBRD, this isn't the first loan sent to the Macedonian company and it brings the total in loans up to just under €10 million which has helped with new equipment, an investment programme, and more energy efficient production lines. Also, it may not even be the last as they are currently considering a €4 million loan to finance new developments.