This investment by the EBRD will be used to finance capital expenditures, enabling the company to increase its capacity, introduce new products, and improve its operational efficiency. The loan will also strengthen the factory’s financial structure, preparing it for business growth.

On this occasion, Miloš Jelić, President of the Supervisory Board of Nelt Group, said: “We are happy to have EBRD helping us achieve our vision by supporting the growth of the Baby Food Factory, one of Nelt Group’s most important strategic projects. This financial arrangement will facilitate further business expansion and brand diversification in all markets where Nelt Group is present, including Sub-Saharan Africa and wider. This step marks the beginning of a long-term official cooperation between Nelt Group and the Bank on various projects.”

This support will also be allocated to promoting gender inclusion and a higher share of women working in logistics, distribution and information technology (IT) sectors.

“This is the first joint project with Nelt Group and a formal continuation of the long-standing connections developed between the Bank and the Nelt’s founders and top management. The financing of the Baby Food Factory will enable them to grow and diversify their operations in the markets of Central and Southeastern Europe. At the same time, this is a first step towards a lasting partnership with Nelt, the company with a presence in different geographical areas, most important being the Western Balkans and Sub-Saharan Africa,” stated Miljan Zdrale, Regional Head of EBRD Agribusiness.

EBRD is the leading institutional investor in Serbia and, so far, it has invested more than 9 billion euros through 355 projects, the majority of which support the private sector. The Bank’s focus in the country is on promoting competitiveness in the private sector, and the transition to green energy and sustainable infrastructure.