OREANDA-NEWS. On 29 July 2008 was announced, that European Bank of Reconstruction and Development is to accommodate Detsky Mir group of companies with the USD 50 million loan for developing the retail chain.

“European Bank of Reconstruction and Development and JSC Detsky Mir-Tsentr, head company of the baby goods retail chain, have signed an agreement to draw down the USD 50 million loan for the period of 5 years,” a press release by Detsky Mir said.

According to the document, the obtained funds will be used for the investment program aimed at opening new retail stores of Detsky Mir in 2008.

Detsky Mir group of companies incorporates the baby goods store chain called Detsky Mir and S-Toys which is one of the leading producer and importer of toys. The head company is JSC Detsky Mir-Tsentr, the majority shareholder of which is Sistema joint-stock finance corporation.

A selling space of Detsky Mir chain totals more than 188,000 sq m in 104 supermarkets and hypermarkets in the cities of Russia and Ukraine.

According to US GAAP, the earnings of Detsky Mir in 2007 reached USD 597.2 million.