The European Bank of Reconstruction and Development (EBRD) has provided an Uzbekistan juice producer with a loan of $10 million (£7.6m, €8.6m).
Agromir Juice will use $5m for the construction of new warehouse facilities equipped with an automated management system. The other half of the loan will be used as working capital and to restructure balance sheets.
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The EBRD loan aims to “introduce best industry standards and … send a positive signal for private sector investors interested in the country.”
Phil Bennett, EBRD first vice-president, added: “This is our first agribusiness project in the country for almost 10 years, exactly the time when we first started working with Agromir.
“It is very symbolic that our new engagement with Uzbekistan coincides with our re-engagement with the company. Our financing will not only improve its efficiency but also enhance its corporate governance standards.”
The EBRD has invested €894m in Uzbekistan to date, with €8m in its current portfolio for the country.
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By GlobalData
