OREANDA-NEWS. March 1, 2011. The International Finance Corporation (IFC) will finance the expansion of supermarket chains Rubliovskiy and Bazar in Belarus, the IFC.

The proposed IFC investment comprises a corporate package of long-term loans for a combined amount of up to USD 21 million comprising an A loan of up to USD 15 million for IFC’s own account and syndicated B loans or parallel loans providing for the remaining amount of the loan package.

RTL Holdings, the client of the bank and operator of the supermarket chains, aims to expand its supermarket chain, which operates under the trade names of Rubliovskiy and Bazar, from 41 to 75 stores.

RTL’s new owned and leased stores will be opened in the Belarusian cities of Minsk, Bobruisk, Grodno, Mogilev, Novopolotsk, and Svetlogorsk and other Belarusian cities in locations appropriate for the opening of city supermarkets with good access to transportation routes and other necessary infrastructure.

Belarus became a member of the IFC in 1992.