EBRD Grants COVID19 Loan to Romanian Steelmaker Donalam
Romanian steelmaker Donalam is planning to bridge a potential working capital gap with a EUR 5 million loan from the European Bank for Reconstruction and Development. The company will use the two year EBRD loan to finance its working capital needs and bridge liquidity gaps caused by the COVID 19 pandemic. The EBRD has previously provided EUR 4 million in financing for investments at the Donalam steel mill.
Donalam, located in Calarasi in south eastern Romania, was set up in 2006 after the Italian group Beltrame, the European leader in merchant bars, bought the local Siderca rolling mill. Steel rounds produced at Donalam are sold to Germany, Italy and markets in central and Eastern Europe, for use in industrial and mechanical engineering, the automotive sector and the oil industry.