EBRD and AS Holding in Joint Partnership for Future Development

SARAJEVO, (Patria) - That partnership and business support yield successful results was proven by EBRD and the company AS Holding by signing a credit arrangement and advisory agreement. The agreement was signed at the EBRD premises in Sarajevo, and the funds will be intended for financing the company AS Logistics, which operates within AS Holding.

Agribusiness in Bosnia and Herzegovina will benefit from the efforts of AS Holding, the largest company in this sector in the country, to optimize and expand its operations with the support of the EBRD. The bank has made available a loan of two million euros to AS Logistics, a newly established subsidiary of AS Holding, to support development, including investments in the AS Logistics distribution center in Tuzla, procurement of new software, equipment, and transport vehicles.

In addition, AS Logistics will implement the ISO Road Traffic Safety Management System to improve the safety and sustainability of the company's operations, which will be consolidated and optimized through the investment program. Efficiency will also be improved with the aim of creating opportunities for further sustainable growth. Charlotte Ruhe, EBRD Managing Director for Central and Southeast Europe, said they are delighted to sign this transaction with AS Holding today and that their financing contributes to the further growth of the company.

"We have witnessed the development of AS Holding in recent years and will gladly contribute to the company's further ambitions with our financing."

The Chairman of the Management Board of AS Holding, Rusmir Hrvić, said that the start of cooperation with the EBRD, one of the largest international financial institutions, represents a significant step for AS Holding and its members.

"This is proof of our quality and standards, which are in line with the strict requirements of the EBRD. I hope that today's signing is just the beginning of a successful story in the years ahead."

AS Holding is a group of diversified activities related to agribusiness, engaged in the production of food products including flour, bread, coffee, confectionery/pastry products, ready meals, bottled water, and salt, with all products sold domestically and abroad. Since 2018, the Group has had around 4,500 employees and annual revenues of 145 million euros.

The fast-moving consumer goods (FMCG) market in Bosnia and Herzegovina remains attractive, driven by economic growth, rising disposable incomes, improvements in the availability and diversity of packaged food products, and the expansion of retail space.

The EBRD has continuously supported the development of agribusiness since 1996, when it began its operations in the country. To date, the EBRD has invested 2.5 billion euros in 171 projects across all sectors of the economy in the country. Prompted by the EBRD Annual Meeting held in Sarajevo in May 2019, the Bank recorded a new record result for Bosnia and Herzegovina, investing 315 million euros in 20 projects in the past year alone.