Shorouk Express
BAKU, Azerbaijan, May 9. The European Bank for
Reconstruction and Development (EBRD) is providing up to 9.9
million euros in financing to support the expansion of KFC and Taco
Bell restaurants in Southeast Europe, Trend reports.
The funding will go to Aptha Global and Tastra, two Bosnia and
Herzegovina-based companies, for projects in Bosnia and
Herzegovina, the Western Balkans, Croatia, and Slovenia.
Of the total amount, 8.1 million euros will be financed by the
EBRD, while 1.8 million euros will come from the Global Environment
Facility (GEF) under the Circular Economy Regional Initiative
(CERI). This is the first CERI project in the Western Balkans and
aims to promote green and inclusive growth.
The investment will support the opening of around 30 new fast
food restaurants by the end of 2027. The project is expected to
generate new jobs with a focus on women and people with
disabilities, while also integrating circular economy principles
and environmental standards in its operations.
The EBRD noted that this financing addresses a gap in unsecured
cross-border funding and supports local companies in expanding
globally recognized franchises in an underserved regional
market.
Aptha Global and Tastra are franchise holders for Taco Bell and
KFC, respectively. Both companies are incorporated in Bosnia and
Herzegovina. Aptha Global also operates the Mango clothing
franchise and is planning further projects in line with
sustainability and innovation goals.
The EBRD has invested over 3.3 billion euros in Bosnia and
Herzegovina since 1996 across 244 projects.
