19 Oct '09
Developer Espro has taken out a $30m syndicated loan with World Bank’s International Finance Corporation (IFC) and Black Sea Trade and Development Bank (BSTDB), the company reports.
The loan terms and interest rate have yet to be announced.
Under plans, the funds are to be invested in construction of an A-class office and logistics complex, to be named Kulon-Yugros, in Stavropol region.
The complex is reportedly to be built on an 8.95-hectare land site along M-29 Caucasus highway.
The complex is scheduled to be put into commission in Q2 2010.