SOFIA – The European Bank for Reconstruction and Development (EBRD) has extended a €25-million ($28.6-million) loan to Bulgarian copper producer Sofia Med, unit of Greek Elvalhalcor, the bank said on Monday.
Several banks are extending parallel financing as part of a €85-million long-term joint financing package that will help Sofia Med set up a new research and development unit and develop new higher value added copper products, the EBRD said in a statement.