📋 Tender Overview
A partnership announced today between IFC and the Equatorial Coca-Cola Bottling Company will support the beverage makers ambitious strategy to reduce its water and energy consumption across its operations in 13 countries in North and West Africa and increase its recycling of plastics.The strategy developed with IFCs support over the last two years involves upgrading or replacing production lines to be more efficient establishing a polyethylene terephthalate PET collection and recycling program in Algeria replacing coolers in its distribution network for energy savings installing solar panels at bottling plants and piloting solar powered retail coolers in Ghana and Morocco.To support the implementation of the resource-saving measures IFC is providing a 64 million financing package which includes a 52 million loan from IFCs own account 8.5 million equivalent in USD from the Canada IFC Blended Climate Finance Program BCFP and 3.5 million equivalent in USD from the Alafaq Aljadida Middle East and North Africa MENA Private Sector Development PSD program. The loan will be used for climate investments and will enable the company to progress on their climate agenda. In addition to the investment IFC will provide advisory services to help the Equatorial Coca-Cola Bottling Company implement the sustainability measures.I am proud to say that Equatorial Coca-Cola has fared well in the face of the rapidly evolving challenges of the last few years and that we have continued making strides in our path towards becoming a more responsible inclusive diverse and sustainable business said Alfonso Bosch Chief Executive Officer at ECCBC. To achieve this purpose partnerships like the one with IFC are essential. By working together we can unify forces to develop more impactful solutions and achieve larger goals in order to improve the future of Africa.By working with Equatorial Coca-Cola Bottling Company we aim to help shape the beverage sectors sustainability path and influence industry practices throughout Africa. The project targets reducing the companys water and energy footprint through technological upgrades solar solutions and piloting recycling programs. We look forward to working closely with more companies across Africa to help them achieve their climate and sustainability goals said Henrik Elschner Pedersen IFC Regional Industry Director in Africa for Manufacturing Agribusiness and Services.The Equatorial Coca-Cola Bottling Company operates seven bottling plants and 44 production lines in Africa producing commercializing and distributing well-known soft drinks water juices and other drinks. The company reaches over 160 million consumers and employs 5000 people directly and 35000 indirectly.
