The International Finance Corporation (IFC) is considering providing a corporate loan of up to 12.5m to Serbian beverage maker Vino Zupa for capital investments, SeeNews reported April 25, citing data from the IFC website.
The project will enhance the company’s environmental and social standards and overall performance, reduce funding risk and strengthen its liquidity position, the IFC, the World Bank’s private sector arm, said in a summary of the project.
The capital investments covered by the proposed Vino Zupa project include additional bottling and fruit concentrate capacity and investment in an energy block totalling 3m, while 1.5m would be allocated for wastewater treatment improvements. The proposed loan will include 6m to refinance a portion of Vino Zupa’s existing short and medium term debt facilities and up to 2m is earmarked for provision of additional, permanent working capital.
The projected date for the board review of the proposed investment project is April 30.
Source Balkans
