EBRD supports expansion of Kazakhstan food producer RG Brands
NUR-SULTAN. KAZINFORM - The 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, EBRD reports.
An EBRD local currency loan (equivalent to US$ 25 million)will finance the acquisition of at least 6,800 cooling displayunits with reduced electricity consumption and anenvironmentally friendly refrigerant. This will help achieve thereduction of almost 8000 tonnes of CO2 emissions per year. It will support RGBrands investment programme and help restructure its balance sheet.
The investment will also contribute to RG Brands commitment to providework-based learning opportunities to young people and establish newpartnerships 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, isone 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 presencein Kazakhstan with two resident offices in Nur-Sultan and Almaty as well asfive local offices for outreach in the remote areas of the country.