OREANDA-NEWS. The European Bank for Reconstruction and Development (EBRD) has signed a seven-year agreement to provide Minsk Soft Beverages Plant (MSBP) with a €10 million credit.

The credit facility will enable Belarus' leading producer of mineral water to upgrade production equipment, double its fleet of transport vehicles and refinance a significant share of the existing debt, the EBRD said in a release.

In addition to equipment upgrade, MSBP will use the credit resources to introduce a new style of corporate business management. Besides, under the terms of the credit agreement the plant is supposed to use International Accounting Standards.

The credit is provided as a Direct Lending Facility (DLF).

Established in 1996, Minsk Soft Beverages Plant produces mineral and drinking water, soft beverages.

In accordance with its country-specific strategy adopted in March 2013, the EBRD mostly provides resources for business development in the private sector. The EBRD is a prominent investor on the Belarusian market, with over €1.4 billion provided in the framework of 65 projects as of August 1, 2014.