The loan will support the sustainable growth of the company via financing its capex program for 2016-18 aimed at upgrading its dairy processing plants and dairy farms and launching new products; as well as some working capital needs.
FoodMaster will undertake to achieve the best international industry practices in terms of food quality and safety. In addition, the project will support the expansion of competitive market interactions by supporting the development of cold chain logistics.
The EBRD, in cooperation with the Food and Agriculture Organization of the United Nations (FAO), initiated a technical cooperation to enhance the competitiveness and inclusiveness of the Kazakh dairy industry.
It says this will be achieved by promoting solutions for improved milk production and collection and for better quality dairy products.
The EBRD said that FoodMaster’s engagement in improving standards in animal husbandry, cold chain development, and quality management and control will set an example for other dairy sector stakeholders in Kazakhstan.
FoodMaster is an affiliate of French Groupe Lactalis.