The European Bank for Reconstruction and Development (EBRD) has issued a €30 million loan to Nectar, a Serbian juice producer.
Nectar products are available across the Western Balkans region and the Slovenian subsidiary Fructal will receive some of the funding, according to a press release on the EBRD website.
The loan will help improve Nectar’s operational efficiency and competitiveness, reads the release. This will include tailoring products to the local demand characteristic of the various geographies where the company operates.
The deal also aims to help local producers as Nectar will champion EBRD’s geographical indication (GI) labelling project with the Food and Agriculture Organisation to improve the certification of Serbian raspberries in the Arilje region; around 100 raspberry farmers are expected to obtain the certification under the project. GI labels aim to improve market competitiveness.
“We are pleased with the opportunity to extend our support to Nectar and deepen our cooperation with a longstanding client,” said Matteo Patrone, EBRD Director for Serbia. “The EBRD is proud to have supported Nectar since 2007 and to have helped it become a regional champion. The project fits well with the EBRD’s strategy for Serbia, which includes further strengthening of the private sector’s competitiveness and structural improvements in the agribusiness sector.”