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. Last Updated: 07/27/2016

EBRD Glass Loan

MOSCOW () -- The European Bank for Reconstruction and Development is loaning $16.8 million to a new Russian glass company, Faboyta Anopino Plus, for expansion and modernization.

Faboyta is a joint-venture company half owned by AO Anopino, one of Russia's leading glass manufacturers and half by two separate Spanish and U.S. food processing groups, the EBRD said in a statement this week.

The EBRD said production of glass bottles had risen 30 percent a year for the last three years to approximately 1 billion bottles a year.