The European Bank of Reconstruction and Development (EBRD) has approved a loan of $130 million (€119.5 million) for Coca-Cola HBC to finance its CapEx and working capital requirements.
The loan will further Coca-Cola HBC’s investment in people development and sustainable business practices in Egypt, the bottler noted.
The company will also receive an additional $750,000 (€689,160) from the Global Environment Facility (GEF) to implement advanced wastewater treatment technology and water management systems in Egypt, in line with EU discharge standards.
Chief financial officer of Coca-Cola HBC, Anastasis Stamoulis, stated, “This collaboration with EBRD as a strategic partner is an exciting development for our business in Egypt and is founded on our common goals of developing people and progressing sustainable business solutions.
“It will enable us to continue driving growth and investing in innovation and the latest sustainable technologies. It will also help us continue building best-in-class capabilities for our people and empowering youth and women through dedicated programmes. We look forward to the positive impact this will bring for our customers, consumers, and the communities in which we operate."
EBRD Loan
The loan will help Coca-Cola HBC invest in Egypt by supporting various initiatives such as training employees, empowering youth (#YouthEmpowered) and women (She Leads), improving water and energy efficiency, and using renewable energy.
Other measures include upgrading to energy-efficient coolers and coffee machines, enhancing logistics, and promoting sustainable packaging.
It also covers automation, digital innovation, and health and safety improvements for employees.
EBRD managing director for the Southern and Eastern Mediterranean, Heike Harmgart, said, “We are very pleased to sign this financing package to Coca-Cola HBC and to further support the private sector, a key segment of the Egyptian economy.
“Thanks to the support of our partners from the Global Environment Facility, the new financing will also help alleviate water pollution through the promotion of advanced wastewater treatment technology as well as foster inclusion by increasing employment opportunities and training for Egyptian youth, benefitting the local economy.”
Investment In Egypt
Since 2012, the EBRD has invested almost €11.9 billion in 178 projects in Egypt, which is a founding member of the institution.
Areas of investment include the financial sector, agribusiness, manufacturing and services, as well as infrastructure projects such as power, municipal water, and wastewater services, and contributions to the upgrade of transport services.
In December 2023, Coca-Cola HBC was ranked for the seventh time as the world’s most sustainable beverage company by the Dow Jones Sustainability Indices, one of the world’s leading global sustainability benchmarks.
