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Coca-Cola HBC, one of the world's largest bottlers of Coca-Cola products, has secured a $130 million loan from the European Bank for Reconstruction and Development (EBRD) to support its ongoing investments in Egypt.
The loan will enable Coca-Cola HBC to further its commitment to sustainable business practices and people development in the country, complemented by a $750,000 grant from the Global Environment Facility (GEF) to promote advanced wastewater treatment and water management systems.
Anastasis Stamoulis, CFO of Coca-Cola HBC, 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."
The financing will support Coca-Cola HBC's investments in Egypt across several key areas, including employee training and development, water and energy efficiency, renewable energy, sustainable packaging, and digital innovation.
"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," said Heike Harmgart, EBRD managing director for the Southern and Eastern Mediterranean.
He continued: "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, and the bank has invested nearly €11.9 billion in 178 projects in the country since 2012, focusing on sectors such as financial services, agribusiness, manufacturing and infrastructure.
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