IFC Lends $15.7 Million to Serbia’s Vino Zupa Beverage Maker
The loan will “support additional bottling and fruit concentrate production capacity, as well as improvements in energy supply and wastewater treatment,” the IFC, the World Bank’s private lending arm, said in an e-mail today.
The IFC’s investment portfolio in Serbia is more than $700 million, including financing from partners, the Washington-based lender said. The latest loan is part of efforts to boost agriculture output that accounts for 21 percent of Serbia’s gross domestic product.
Vino Zupa sales rose 24 percent in 2011 to 5.64 billion dinars ($62 million), while its net income fell 26 percent to 252 million dinars from a year earlier.
To contact the reporter on this story: Misha Savic in Belgrade at email@example.com
To contact the editor responsible for this story: James M. Gomez at firstname.lastname@example.org