EGYPT – Coca-Cola HBC, one of the world’s largest Coca-Cola bottlers, has secured a US$130 million loan from the European Bank for Reconstruction and Development (EBRD) to support its ongoing investments in Egypt.
This financing is aimed at enhancing sustainable business practices and people development in the country.
The initiative is further supported by a US$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, expressed enthusiasm about the collaboration with EBRD, stating, “This partnership 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 several key areas, including employee training and development, water and energy efficiency, renewable energy, sustainable packaging, and digital innovation.
Heike Harmgart, EBRD managing director for the Southern and Eastern Mediterranean, noted, “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.
In December 2023, Coca-Cola HBC was ranked as the world’s most sustainable beverage company for the seventh time by the Dow Jones Sustainability Indices, a leading global sustainability benchmark.
The company reported a 1.8 percent growth in organic volume during the first quarter of 2024, driven by strong performances in emerging and developing markets.
Organic revenue per case increased by 10.6 percent, reflecting effective revenue growth management initiatives over the past twelve months.
Despite FX translation headwinds in Nigeria and Egypt, Coca-Cola HBC’s reported revenue increased by 1.0 percent.
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