EBRD lends 24 mln euro to Serbian baby food producer

"The EBRD’s investment will be used to finance capital expenditure, enabling the company to increase its capacity, introduce new products and improve the efficiency of its operations. The loan will also enhance the company’s financing structure, preparing the manufacturer for ramping up its operations," the EBRD said in a statement.

As part of the investment, the baby food factory has pledged to increase the percentage of women employed in logistics, distribution and information technology, where the majority of its workforce is employed.

The Serbian company is part of Nelt Group, a leading conglomerate in the Western Balkans in the field of logistics and distribution.

Nelt Group's CEO, Milos Jelic, said in the same statement that the EBRD support will help facilitate the further expansion and diversification of Fabrika Decje Hrane's brands to all current Nelt markets (including sub-Saharan Africa) and beyond. He noted that Fabrika Decje Hrane is one of Nelt Group's most important strategic projects.

The loan agreement represents the first joint project of the EBRD and Nelt Group, the bank said.

($ = 0.935 euro)