The European Bank for Reconstruction and Development (EBRD) extended a $130mn (€123.8mn) loan facility to finance capex investment and working capital of Coca-Cola HBC in Egypt, the bank said in a statement on July 16. 

Coca-Cola HBC is the strategic bottling partner of The Coca-Cola Company.

The funds will be used to invest in the Coca-Cola HBC training programme to teach young people the necessary skills while supporting the employability of women in the workforce through dedicated human capital development initiatives. Some 26.5% of the Egyptian youth are unemployed, lack adequate skills, and tend to work in jobs that lack job security and stability. 

The EBRD also provided a Global Environment Facility grant worth $750,000 to introduce the best technology for wastewater treatment in the North African country in line with EU discharge standards. The grant is part of the Environmental Technology Transfer programme (ENVITECC).

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

“Our cooperation with the EBRD enables us to continue to grow and invest in innovation and the latest sustainable technologies. It also enables us to raise the capabilities of our employees and achieve our ambitions of empowering youth and women,” commented Ahmed El Afifi, General Manager of Coca-Cola HBC Egypt. 

“We will do all this through programs dedicated to the Egyptian community, water and energy efficiency projects, reliance on renewable energy, investment in energy-saving coolers, and shift to automated systems and digital innovation.”

Since 2012, the EBRD has invested almost €12.2bn in 183 development projects in Egypt covering the financial sector, agribusiness, manufacturing and services, as well as infrastructure projects‎.