Kazakhstan’s food and beverage producer RG Brands will receive $49.2m in loan from the European Bank for Reconstruction and Development (EBRD) to enhance its product offerings.
The investment is in line with EBRD's strategy to increase its support to the agribusiness sector in the country.
EBRD president Suma Chakrabarti said: "We at the European Bank for Reconstruction and Development are already increasing our involvement in agriculture and we certainly want to do more to reform the sector and to increase its role in the economy."
The tea, juice and milk drinks producer will use the loan amount to increase the production of selected products.
The company will also invest in a new tea-bagging machine, as well as reduce the amount of packaging and improve resource efficiency.
So far, EBRD has invested over $7.2bn across various industries in Kazakhstan.
RG Brands currently has production operations in Central Asia and distribution operations in Kazakhstan and Kyrgyzstan.
The company offers a wide range of products including juices and juice-containing beverages, nectars, tea, carbonated soft drinks, milk, ice tea, and snacks.
Image: The tea, juice and milk drinks producer will use the loan amount to increase the production of selected products. Photo: courtesy of European Bank for Reconstruction and Development.
