September 28 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said that is providing a 82.3 million euro ($78.5 million) long-term loan to Barry Callebaut South East Europe, the Serbia-based subsidiary of Swiss cocoa and chocolate products maker Barry Callebaut.
The loan, consisting of 52.3 euro million committed tranche and 30 euro million uncommitted tranche, will support the company's investment in the development of the chocolate production plant and Chocolate Academy in Serbia, as well as future investments in Serbia, the EBRD said in a statement earlier this month.
The project will support the development of the company to become a regional production hub, which will introduce new state-of-the-art production processes and new types of services in Serbia and the region, the bank said.
The project will also support energy efficiency improvements through BREEAM certification of the new production plant in Serbia.
Barry Callebaut, the world's leading manufacturer of high-quality cocoa and chocolate products, opened a chocolate factory last year in Novi Sad, northern Serbia.
($ = 1.04777 euro)