To expand the existing operations of fresh&Co. and further strengthen the company’s brands and its distribution network for fruit juices in Serbia and Montenegro.
The project is expected to have a strong positive transition impact, especially in terms of:
Demonstration impact: signalling to the Serbian government and other players in the economy that majority privately-owned companies with good corporate practice are able to attract long-term financing in Serbia and Montenegro, as well as indicating to international financiers and banks that Serbia and Montenegro hold interesting investment opportunities;
Backward linkages: the company provides local farmers with regular sales of their fruit and thereby transfers funds to another sector of the economy; and
Forward linkages and competition: the company provides a good example to other local food companies and retailers of good practice in distribution. The project would also contribute to continued improvement of quality and availability of fruit juices in the market.
fresh&Co. a.d. is a Serbian joint stock company and the largest producer of fruit juices in Serbia and Montenegro.
Equity investment of up to €12.5 million in the company.
The project is screened B/1, requiring an environmental audit and analysis of the Company’s past and current operations. The Company is operating an environmental management system which has been certified as ISO 14001 compliant. The Bank will review the due diligence documentation required as part of that certification process to assess whether it satisfies the audit and analysis requirements of the Bank. In accordance with Bank policy, the Company will be required to comply with national and European Union or World Bank environment, health and safety standards.
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