OREANDA-NEWS. Eurasian Development Bank (EDB) and the A Plus Group of Companies signed a long-term loan agreement to finance the construction of facilities in A Plus Shushary industrial park. The borrower on the part of the A Plus Group, the parent company in which is A Plus Development, is Park Shushary.

A loan of RUB 2.4 billion will be provided for ten years. It will be used to develop A Plus Park Shushary, the largest industrial park in the Northwestern Federal District. A number of large industrial facilities are being built in its territory, including distribution facilities and warehouses for X5 Retail Group, Auchan, Norbert Dentressangle Logistics and other companies. The total floor area of the facilities under construction is 132,500 sq m. The industrial park occupies 72 hectares and the possible floor area of the facilities, which can be built in it, is 300,000 sq m.

"This project is being fulfilled in challenging conditions. Yet, despite a very difficult situation in the financial markets and the economy, the A Plus Group of Company, a federal developer, is working on a large investment project," says Gennady Zhuzhlev, Deputy Chairman of the Management Board at EDB. "By signing this agreement, Eurasian Development Bank confirms its readiness to work anti-cyclically, i.e. to provide long-term finance during economic crises. In doing so, our Bank, as a development institution, supports investment and fulfils its anti-crisis function."

"This is our first project with Eurasian Development Bank. Our partnership with it, despite the situation in the sector and the economy as a whole, assures us that we will successfully complete the ongoing projects related to the development of A Plus Park Shushary, and it opens up new horizons for us as regards the construction of other facilities for our customers," says Petr Gavyrin, Executive Officer at A Plus Development.