Baku, Azerbaijan, July 15
By Nargiz Sadikhova - Trend:
The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of RG Brands, a Kazakhstan-based manufacturer of food and beverages, Trend reports with reference to the bank's statement.
The investment will result in environmental benefits for the country, offer inclusion opportunities for young people and promote international standards in the food processing sector.
An EBRD local currency loan ($25 million) will finance the acquisition of at least 6,800 cooling display units with reduced electricity consumption and an environmentally friendly refrigerant. This will help achieve the reduction of almost 8,000 tons of CO2 emissions per year. It will support RG Brands investment program and help restructure its balance sheet.
The investment will also contribute to RG Brands commitment to provide work-based learning opportunities to young people and establish new partnerships with educational institutions.
RG Brands, which produces a wide range of non-alcoholic beverages, including juices, soft drinks, UHT milk, tea, water and franchised brands, is one of the largest private sector clients of the EBRD in Kazakhstan.
(1 USD = 383.94 KTZ on July 15)
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