European Bank for Reconstruction and Development (EBRD) Supports Baby Food Factory
The European Bank for Reconstruction and Development (EBRD) has supported Baby Food Factory, a member of Nelt Group, with a loan of €24 million.
This EBRD investment shall be used to finance capital expenditure, enabling BFF to increase its capacity, introduce new products and improve the efficiency of its operations. The loan shall also improve the company’s financial structure, preparing the manufacturer for ramping up its operations.
On this occasion Milos Jelic, CEO of Nelt Group, said: “We are happy that the EBRD will assist us in achieving our vision by supporting the future growth of Baby Food Factory, one of the most important strategic projects of Nelt Group.” Our financial arrangement shall facilitate further expansion and diversification of BBF brands to all current Nelt Group markets, including Sub-Saharan Africa, and beyond. This step marks the beginning of a long-term formal cooperation between Nelt Group and the Bank on various projects.”
The support will also focus on ensuring greater gender inclusion, as well as a greater share of women employed in logistics, distribution and information technologies (IT).
“This is the first project with Nelt Group enabling formalizing ties after years of relationship developed between the Bank and Nelt’s founders and senior management. The financing of Baby Food Factory shall enable them to grow and diversify their operations across the markets of Central and Southeastern Europe. At the same time, it represents the first step towards a long-term partnership with Nelt, a company present in a number of different geographical areas, of which the Western Balkans and Sub-Saharan Africa are key,” said Miljan Zdrale, EBRD Regional Head of Agribusiness.
The EBRD is a leading institutional investor in Serbia and has now invested more than €9 billion through 355 projects, most of which have supported the private sector. The Bank’s focus in the country is on supporting private-sector competitiveness, green energy transition and sustainable infrastructure.
