The Gorenje Company Will Receive a Loan for the Development of the European Investment Bank in the Amount of 50 Million Euros

Due to aligned procedure with the European Commission (EC), the European Investment Bank (EIB) will provide a 50 million euros loan for the development of the Gorenje Company. The project will be implemented until 2019.

Velenje. Until 2019, the Gorenje Company will be using the EIB loan in the amount of 50 million euros with a seven-year period of repayment. Thus, Gorenje will not increase the total debt. This loan program is only a part of the 24-billion-euro financial package prepared by the EIB and the EC for the next seven years in order to help the European economy in terms of innovations, research and development projects and to improve its competitiveness.

The Gorenje Company Board Chairman Franjo Bobinac and the EIB Vice-President Laszlo Barany signed yesterday the Loan Agreement in the presence of the Prime Minister Mira Cerarja and the European Commissioner for mobility and infrastructure Violetta Bulc. On behalf of the Company, Franjo Bobinaс is obliged to spend these funds to finance the four-year program of research, development and innovations.

“It was several years ago, when Gorenje set a goal to become the world’s first company within its industry with respect to innovations. Until 2020, we want to get 1.5 billion euros of revenue. Besides, we want to double the amount of 100 million euros from sales of premium class apparatuses and double the amount of 100 million euro from sales outside the Europe and Russia. We are the largest domestic industrial company, which exports 95% of its production. The Krka Company and we are the largest Slovenian exporters. We employed 10,000 people, wherein 4,000 of them are employed abroad. Getting an EIB loan will allow us to develop our products faster. We will also assign part of these funds to digitalize them,” Franjo Bobinac said.

Laszlo Barany said that the EIB and the EC supported the research development and innovations program of the Gorenje Company as well as the manufacturing of innovative and environmentally friendly electric apparatuses in the majority of EU member states, in which the Gorenje affiliates were operating. Therefore, it would enhance the competitiveness of the whole European economy.