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south-east european

INDUSTRIAL MARKET

22

SEE BUSINESS

SEE Business

EBRD continue to support the successful

business of Bulgarianenergybar producer

Smart Organic, a leading Bulgarian producer and

distributor of organic products, gets a boost from the

European Bank for Reconstruction and Development

(EBRD) by its extending a EUR 2 million loan.

The Bulgarian energy bar producer is specialized

in distribution of organic foods and production of

energy-boosting snacks (protein bars). Smart Or-

ganic is export oriented - exporting almost 70 per

cent of its production. Roobar is Smart Organic's

most successful brand, selling in over 40 countries

and across 5 continents.

The EBRD is financing part of the firm's EUR3.3

million expansion programme as the company is

extending to international markets, consolidating

in one location production, packaging operations

and storage.

"With its energy-boosting, healthy snacks power-

ing people in over 40 countries, Smart Organic has

seen exceptional growth this year and is keen to

expand further. Now that the company seeks to

boost itself to meet growing demand, the EBRD is

delighted to lend a hand. We hope that our invest-

ment will help Bulgarian energy bars conquer the

world.", said Larisa Manastirli, EBRD Director for

Bulgaria.Yani Dragov, Executive Director of Smart

Organic, commented: "We are delighted to cooper-

ate with the EBRD and with their help we will be

able to reach our goals for expansion in the years

ahead. Investing in the consolidation and extension

of our production and administration is a step we

had to take. Now we are confident that we can meet

the growing demand we face. The quality of our

products is another area that will see further im-

provement due to this investment."

The reason of the help of EBRD to the Bulgarian

company was the declared priority of the Bank to sup-

port successful companies become more competitive

locally and abroad.

In 2016 the EBRD has invested close to EUR 600

million in the Bulgarian economy. In the years ahead,

the Bank will aim to keep its level of investment at

about EUR 200 million annually in response to local

demand, says the bank official message.

To date, the EBRD - one of the largest institutional

investors in Bulgaria - has invested over EUR 3.4

billion in more than 230 projects in the country. Some

80 per cent of the Bank's investments in Bulgaria are

in the private sector.

An actionplan for sustainable future of Ti-

rana was settled

Recently, the European Bank for Reconstruction and

Development (EBRD) and the municipality of Tirana

joined forces to ensure the development of the sus-

tainable future of the Albanian capital.

"EBRD has its Green Cities Programme to support

municipalities addressing environmental challenges.

Green - or sustainable - development is one of the six

transition qualities the EBRD has identified in its ap-

proach to the countries where it invests, with competi-

tiveness, resilience, governance, integration and in-

clusion the other key elements. Cities face many envi-

ronmental challenges, ranging from local air quality

concerns, traffic congestion and limited land resourc-

es to pressure on water resources and the challenges

associated with municipal solid waste. According to

the International Energy Agency (IEA), around two-

thirds of energy use takes place within urban sys-

tems", says the bank message.

Concerning Tirana the Green City Action Plan was

settled, facing the most urgent problems of its popula-

tion. It is connected with the signed in 2015 Memoran-

dum of Understanding between the EBRD and the

municipality of Tirana. The main areas of partnership

includes urban transport, urban roads infrastructure,

water and wastewater services, solid waste manage-

ment, street lights and energy efficiency.

"The Green City Action Plan is funded by the Austrian

Federal Ministry of Finance under theWestern Balkans

DRIVE Fund. The methodology was developed by the

EBRD with the Organisation for Economic Co-opera-

tion and Development (OECD) and the International

Council for Local Environmental Initiatives. The project

will be led by Arup, a London-based consultancy spe-

cialising in urban transformation projects, in consortium

with legal and accounting consultancy firms Abkons,

Grant Thornton and LXL. Promoting sustainable ener-

gy and environmentally sound investments is one of the

EBRD's priorities in Albania. To date, the Bank has in-

vested over ˆ1 billion in almost 80 projects. It is active in

all sectors of the economy with a special emphasis on

infrastructure and energy, where demand and potential

are high", says the EBRD message.

10 million euro loan provided to Turkish

manufacturer Bozankaya by the EBRD

Bozankaya, a Turkish producer of public transporta-

tion vehicles such as trams and electric buses, has

Source: Bozankaya

Source: EBRD

Source: Smart Organic

partnered with Siemens to produce 22 four-wagon

metro trains for Bangkok, Thailand.

The European Bank for Reconstruction and Devel-

opment (EBRD) is providing a EUR 10 million loan to

Bozankaya in order to finance the capital expenditure

needed to fulfil this order. The finance will support the

implementation of a robotic automated welding ma-

chine in Bozankaya Ankara plant and new facility to

make the expanded production possible.

"Bozankaya is a pioneer in Turkey when it comes

to environmentally-friendly electric buses and trams.

Now, this partnership with Siemens is taking it to a

new level. The company, its staff and the Turkish

manufacturing sector as a whole will benefit enor-

mously from the know-how that the leading global

engineering company is bringing into this joint un-

dertaking. We are pleased to play a role and wish

the consortium the best of luck in future tenders

across the globe", said Jean-Patrick Marquet, EBRD

Managing Director for Turkey.

Aytunc Gunay Bozankaya, the chairman of the board

of Bozankaya, said: "Our company designs and pro-

duces trams, electric buses and metros for the future.

With this new landmark partnership with Siemens, and

with the support of the EBRD, we will be flying the flag

for Turkish engineering across the world."

Bozankaya is one more good example of EBRD's

role in supporting manufacturers in their move to

strengthen the integration of the local economy with

global markets.

"The EBRD's financing for Turkish private sector

companies, such as Bozankaya, makes them more

competitive in global markets. Competitiveness is

one of the six transition qualities the EBRD has

identified in its approach to the countries where it

invests, with environmentally friendly, resilience,

governance, integration and inclusion the other key

elements. The EBRD started investing in Turkey in

2009 and currently operates from offices in Istan-

bul, Ankara and Gaziantep. The country is a top

destination for the Bank's finance, with EUR 1.9 bi-

llion invested in 2016 alone. To date, the Bank has

invested over EUR 9 billion in Turkey through more

than 220 projects across sectors and has mobi-

lised nearly EUR 20 billion for these ventures from

other sources of financing. Some 98 per cent of the

Bank's investments in Turkey are in the private sec-

tor", says the EBRD message.