- EBRD provides € 15 million for expansion of Eurasia Bottlers
- Local soft drinks producer to introduce energy and resource efficiency measures
- Support from FINTECC
The European Bank for Reconstruction and Development (EBRD) is helping to improve the variety and availability of locally manufactured soft drinks in Uzbekistan by supporting operations of Eurasia Bottlers (EB), a leading producer of non-alcoholic beverages.
The EBRD’s senior loan of up to € 15 million to EB will finance its working capital needs including the procurement of new manufacturing equipment and the expansion of its existing production facilities. The financing will contribute to the transition of EB from a distributor to a manufacturer of soft drinks and will help the company meet the growing demand for non-alcoholic drinks in the country.
Supported by a US$ 174,124 grant from the EBRD’s Finance and Technology Transfer Centre for Climate Change (FINTECC) programme, the project will help EB install energy efficient equipment such as chillers, boilers, compressors and electrical forklifts.
EBRD President Odile Renaud-Basso said: “It is very important for our Bank to support good privately-owned companies in Uzbekistan’s agricultural sector. It generates around 28 per cent of the country’s GDP and provides jobs for nearly third of its workforce.”
As part of the project Eurasia Bottlers will be aiming to achieve a Building Research Establishment Environmental Assessment Method (BREEAM) certification for its new production facility. The BREEAM certification will enable savings in energy, water and raw materials.
Uzbekistan is the leading recipient of EBRD funding in Central Asia for the fourth year in row. To date, the Bank has invested around €4.42 billion in 151 projects across the country, with most of those funds supporting private entrepreneurship.