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Summary of Proposed Investment

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 28172
Serbia (IDA)
Sector1Other Food
Environmental categoryB
Date SPI disclosedMay 19, 2009
Projected board dateJune 19, 2009
Previous EventsInvested: July 28, 2009
Signed: June 29, 2009
Approved: June 26, 2009
View Environmental & Social Review Summary (ESRS), click here
click here
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Project description
Frikom is a leading ice cream, frozen food and frozen pastry producer in Serbia. The company acquired in 2008 Nova Sloga, a former Serbian state owned mineral water, fruit and vegetable producer. The proposed project is for the corporate restructuring and modernization of Frikom, and for the post-privatization investments in Nova Sloga, to finance capital expenditures, expand fruit production, establish fresh vegetable purchasing, increase mineral water production capacity and improve efficiency.

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