Equatorial Coca-Cola Bottling Company (ECCBC) has developed a sustainability strategy that has received the International Finance Corporation’s (IFC) support through a loan of 64 million euros.
The loans provided by BCFP and MENA PSD, along with a similar amount from IFC, will be used for climate investments and will enable the company to progress on their climate agenda.
The company’s ESG (Environment, Social and Governance) Impact Strategy 2030 reinforces the sustainability of the business ensuring it meets the evolving demands of its internal and external stakeholders and contributes to protecting the shared environment. Through its six pillars — packaging, water, climate, communities, sourcing and people — the ESG strategy follows ECCBC’s vision to become the best beverage company in each of the countries that it operates and the leading Coca-Cola system bottler in Africa, not only through the beverages they produce, but by creating long-term value for local communities and investing in a better future for Africa.
IFC is providing a 64 million euro financing package comprised of a loan from IFC’s own account of 52 million euros. The financing package also includes concessional finance from the Canada IFC Blended Climate Finance Program (BCFP) for an amount of 8.5 million euros equivalent in United States Dollars (USD) and the Alafaq Aljadida Middle East and North Africa (MENA) Private Sector Development (PSD) program for an amount of 3.5 million euros equivalent in USD.
