EBRD funnels some USD 130 mn into the private sector: The European Bank for Reconstruction and Development (EBRD) is extending a USD 130 mn loan to Coca-Cola HBC Egypt — a major bottling partner of The Coca-Cola Company — to finance the company’s capex and working capital requirements, according to statements from the two parties here and here. The loan comes as part of the EBRD’s efforts to boost “the competitiveness and growth of Egypt’s private sector.”

In detail: Coca-Cola HBC will use the funds to invest in water and energy efficiency, renewable energy, energy-efficient equipment, sustainable packaging, and digital innovation, the company said. It will also invest in its YouthEmpowered and She Leads training programs to empower young people and women in the workforce.

A USD 750k grant to boot: The loan will be complemented by a USD 750k grant from multilateral environmental fund Global Environment Facility (GEF) “to promote the implementation of advanced wastewater treatment technology and water management systems in Egypt as per EU discharge standards.” The grant will be provided under the Environmental Technology Transfer programme — a joint initiative by the EBRD, GEF, and UNEP that aims to reduce pollution in the Mediterranean Sea.

What they said: “The new financing will also help alleviate water pollution by promoting advanced wastewater treatment technology as well as fostering inclusion by increasing employment and training for Egyptian youth, benefiting the local economy,” the EBRD Managing Director for the Southern and Eastern Mediterranean Heike Harmgart said.

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