The European Bank for Reconstruction and Development (EBRD) announced today that it has finalized a loan of 24.04 million euros for Nelt’s baby food factory in Serbia.
This investment will be used to finance capital expenditures aimed at increasing production capacity, introducing new products, and enhancing operational efficiency, according to Beta reports. As part of the investment agreement, the baby food factory commits to advancing gender inclusion by increasing the representation of women in logistics, distribution, and information technology roles.
Miloš Jelić, CEO of Nelt Group, expressed gratitude for EBRD’s support in realizing their strategic vision, particularly in bolstering the growth of the Children’s Food Factory, a key project for Nelt Group.
“Our financial arrangement will facilitate the expansion and diversification of Baby Food Factory brands across all of Nelt’s current markets, including sub-Saharan Africa and beyond,” Jelić stated.
Miljan Ždrale, EBRD’s Regional Head of Agribusiness, highlighted that this marks the first project with Nelt Group, formalizing a longstanding relationship between the bank and Nelt’s leadership.
“This financing will enable the client to expand and diversify its operations across Central and Southeast Europe. It also initiates a long-term partnership with Nelt, which operates across various sectors and regions, with a significant presence in the Western Balkans and sub-Saharan Africa,” Ždrale noted.
EBRD remains a prominent institutional investor in Serbia, having invested over nine billion euros through 355 projects, predominantly supporting the private sector. Their focus in Serbia includes enhancing private sector competitiveness, transitioning to green energy, and developing sustainable infrastructure.
