Sorainen Belarus acted as local counsel for the International Finance Corporation (IFC) on the extension of a EUR 15 million loan to the Alutech Group of Companies (Alutech Group) to refinance short-term bridging loans for capital investment during 2013-2014.

The project is aimed at supporting Alutech Group expansion plans, further market penetration and broader product offering. This is the third investment in Alutech Group by IFC: the first IFC loan, of EUR 22 million, was granted in 2010 and the second, of EUR 25 million, in 2012.

IFC is a global financial institution and a member of the World Bank Group focused exclusively on the private sector in developing countries. Alutech, headquartered in Belarus, is a leading CIS producer of roller shutter systems, sectional doors and aluminium profile systems that operates manufacturing and sales companies in Belarus, Russia, Ukraine, the Czech Republic, Germany and Austria.

The Sorainen team assisting the client on this project was led by partner Kiryl Apanasevich and associate Hanna Volchak.