Coca-Cola HBC receives USD $130 million loan from EBRD
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Coca-Cola HBC has been awarded a USD $130 million loan by the EBRD to finance its CAPEX and working capital requirements. The loan will also further Coca-Cola HBC’s investment in people development and sustainable business practices in Egypt.
The loan will be complemented by a grant of $750,000 from the Global Environment Facility (GEF) to promote the implementation of advanced wastewater treatment technology and water management systems in Egypt, in line with EU discharge standards.
Specifically, the loan will support Coca-Cola HBC’s ongoing investment in Egypt in the following areas:
- Existing programmes and dedicated measures to build the capabilities of employees, empower young people (#YouthEmpowered) and women (She Leads)
- Water and energy efficiency
- Renewable energy
- Energy efficient drinks coolers, coffee machines, and logistics
- Sustainable packaging and portfolio innovation
- Automation and digital innovation, including health and safety initiatives for employees
Coca-Cola HBC chief financial officer, Anastasis Stamoulis said, “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 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.”
Egypt is a founding member of the EBRD. Since the start of its operations in the country in 2012, the EBRD has invested almost €11.9 billion in 178 projects in the country. The EBRD’s 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. This recognition is the result of Coca-Cola HBC’s clear vision and commitment when it comes to sustainability, its entrepreneurial and collaborative approach, consistent investment in technology, and a highly skilled and committed team. Read more about Coca-Cola HBC’s sustainability journey.
