Coca-Cola HBC Egypt

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

Provision of USD 130 million senior unsecured loan (the "Loan") to Coca-Cola HBC Egypt S.A.E (the "Company"), a subsidiary of Coca-Cola HBC AG. The loan will be used to finance capex investment in sustainability and health and safety as well as regular capex and working capital requirements.

Project ID 54466

Status Disbursing

Location

Egypt

Business Sector

Food and Agribusiness

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Rana Gamali, Corporate Affairs & Sustainability Director; Joanna Kennedy, Head of Investor Refashions; and Sonia Bastina, Head of Communications
rana.gamali@cchellenic.com; Joanna.Kennedy@cchellenic.com; sonia.bastian@cchellenic.com
www.cchellenic.com

Project ID 54466

Status Disbursing

Location

Egypt

Business Sector

Food and Agribusiness

Notice Type

Private

Environmental Category

Approval Date

28 Nov 2023

Disclosure date

16 Jul 2024

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project description

Project objectives

The loan will comprise three tranches: (i) committed Tranche A of USD 55 million to finance the Company's capex investment, (ii) committed Tranche B of USD 40 million to finance working capital needs of the Company and (iii) uncommitted Tranche C of USD 35 million to be used for financing the working capital requirements of the Company.

Transition impact

ETI Score:71

ject contributes to the Green and Inclusive qualities.

The Project will contribute to the Inclusive quality as it will support human capital development. The loan will help Coca-Cola HBC to continue investing in its training programme for young people to build skills, It will also strengthen equal opportunities through dedicated measures to advance women's careers. The Project will also contribute to the Green quality, as it will support investments and activities leading to improved resilience to climate change, reduced water pollution and enhanced resource efficiency.

Client information

COCA-COLA HBC EGYPT SAE

Coca-Cola HBC Egypt S.A.E is a joint stock company incorporated and operating in Egypt. Coca-Cola HBC Egypt is 98% ultimately owned by Coca-Cola HBC AG, a Swiss-based company, one of the largest Coca-Cola bottlers globally.

EBRD Finance Summary

USD 130,000,000.00

USD 95 million

Total project cost

USD 130,750,000.00

USD 130 million

Environmental & Social Summary

Categorised B (ESP 2019). The installation of various equipment, at five sites, for the production of beverages is not associated with significant environmental and social (E&S) risks. The Project will support a pipeline of green investments to assist in meeting the green transition and net zero ambitions of the Coca-Cola HBC Group in the Bank's priority region. Of all the Project elements, it is noted in particular that the upgrades to wastewater treatment will ensure compliance with EU discharge standards.

Environmental and social due diligence was undertaken internally and included completion of a standard E&S questionnaire, review of additional documentation provided by the Company, and follow-up on key selected issues. As anticipated, and given that these are Coca-Cola HBC facilities, management of environmental and social issues is at a very high level. The Company has embedded E&S issues into its framework of policies and procedures many of which are set at the corporate level. There is dedicated staffing across a range of areas including environment, health and safety, road safety, human resource management and supply chain management. The Company is certified to the ISO 9001 (quality), 22000 (food safety), 14001 (environment), and 45001 (health and safety) management systems and is also involved in a number of other initiatives such as TCFD reporting. For supply chains, the Company undertakes a thorough assessment of each supplier before awarding the contract.

Some of the selection criteria are related to sustainability where the Company either requires an EcoVadis score or asks the supplier to fill ESG form to better understand their position. In terms of HR, the Company is again covered by a range of policies including a Code of Business Conduct, Anti-Bribery Code, a Human Rights Policy, and an Employee Benefits Policy, all of which are aligned with good industry practice, and which together align the Company with the requirements of PR2. For health and safety, the Company is already certified to the ISO 45001 system with all tasks, including those of contractors, subject to risk assessment and control. Finally, the Company has undertaken an analysis of key stakeholders and has various ways to outreach to those stakeholders including via partner NGOs and through its SpeakUp hotline and 3rd party complaints' system. Given the aims of this facility, and the systems and policies already in place, the Company is judged as being compliant with the Performance Requirements and therefore no ESAP will be required for this Project. The Company will be required to continue compliance with the PRs through the commitments in the legal agreements and provide annual E&S reporting to the Bank.

Technical Cooperation and Grant Financing

None

Company Contact Information

PSD last updated

16 Jul 2024

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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Coca-Cola HBC Egypt

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)