NUR-SULTAN (TCA) — The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of RG Brands, a Kazakhstan-based manufacturer of food and beverages, with an investment that will result in environmental benefits for the country, offer inclusion opportunities for young people and promote international standards in the food processing sector, the Bank said on July 15.
An EBRD local currency loan (equivalent to US$ 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 8000 tonnes of CO2 emissions per year. It will support RG Brands investment programme 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.
To date, the EBRD has invested over € 8.1 billion (US$ 9.1 billion) through 261 projects in the economy of Kazakhstan. The Bank has a wide presence in Kazakhstan with two resident offices in Nur-Sultan and Almaty as well as five local offices for outreach in the remote areas of the country.