Coca-Cola HBC Egypt has obtained a $130 million loan from the European Bank for Reconstruction and Development (EBRD) to support its capital expenditure and working capital needs.
According to a press release, the Global Environment Facility (GEF) has awarded Coca-Cola HBC a $750,000 grant through the Environmental Technology Transfer program (ENVITECC). This funding aims to facilitate the adoption of advanced wastewater treatment technology and improve water management systems in Egypt.
Additionally, with support from the EBRD, Coca-Cola HBC plans to enhance its training program to develop skills among young Egyptians. This initiative also includes measures to promote equal opportunities, particularly focusing on advancing women’s careers.
Managing Director for the Southern and Eastern Mediterranean region at EBRD, Heike Harmgart, said: “The new financing will also help alleviate water pollution by promoting advanced wastewater treatment technology as well as fostering inclusion by increasing employment opportunities and training for Egyptian youth, benefiting the local economy.”
Ahmed El Afifi, General Manager of Coca-Cola HBC Egypt, said: “We will do all this through programs dedicated to the Egyptian community, water and energy efficiency projects, reliance on renewable energy, investment in energy-saving coolers, and shift to automated systems and digital innovation.”
Since 2012, Egypt, as a founding member of the EBRD, has attracted investments totaling approximately €12.20 billion across 183 projects. These investments by the EBRD in Egypt encompass various sectors such as the financial industry, agribusiness, manufacturing, services, and crucial infrastructure like power, water, wastewater management, and transport enhancements.
Recently, in May 2024, the National Bank of Egypt (NBE) successfully secured $119.5 million from the EBRD. This funding aims to bolster Egyptian micro, small, and medium-sized enterprises (MSMEs), providing essential support for their growth and development.
