November 16 (SeeNews) - Bosnian brewer Bihacka Pivovara has acquired a new beer-filling line and other equipment, using the proceeds of a 1.0 million euro ($1.1 million) loan from the European Bank for Reconstruction and Development, the lender said.
The EBRD has supported the modernisation project of the drinks producer with the loan extended through a local partner, Sparkasse Bank Sarajevo, the EBRD said in a statement on Thursday.
"One of our key goals in Bosnia and Herzegovina is to support the growth of small and medium-sized enterprises, which are the key engine of the local economy," Ian Brown, head of the EBRD office in Sarajevo, said. "Our investments help to increase the company’s competitiveness both on the local market and for the purposes of exporting their goods and services."
Bihacka Pivovara also benefited from a credit line several years ago to invest in various energy efficiency measures, including the replacement of an old boiler and buying other energy-saving equipment, the EBRD said.
"Our brewery has grown to employ over 100 staff since we started our work," the CEO of Bihacka Pivovara, Edin Ibrahimpasic, said. "Our continuous investments have helped us to become a greener and highly competitive business which can offer excellent products to its customers."
The drinks producer in Bihac is one of several dozen businesses which have benefited from the EBRD’s and EU’s support to invest in new equipment and processes and comply with EU standards. The activities have supported a broad range of beneficiaries, ranging from glass producers to wood manufacturers and agribusinesses.
($ = 0.881007 euro)