Spinneys supermarkets granted $22M for 'sustainable development projects'

BEIRUT — The European Bank for Reconstruction and Development (EBRD) announced Tuesday a $22 million financing package for Spinneys supermarkets in Lebanon to support sustainable development projects.

The projects include energy-efficiency measures and the expansion of its retail operations, amid what it described as “heightened economic uncertainty and a highly volatile regional environment.”

In a press release sent to L'Orient Today Wednesday, the announcement said the package includes a $20.5 million loan and a $1.5 million grant backed by the European Union.

According to the EBRD, part of the funding will go toward improving energy efficiency in existing and new Spinneys outlets, with the project expected to reduce carbon emissions and cut plastic bag use by 25 percent through the introduction of fully recyclable bags.

Spinneys has in recent years introduced initiatives aimed at reducing "single-use plastics, improving recyclable packaging, and enhancing waste management and energy efficiency across its operations in Lebanon."

The financing will also support "the expansion of Spinneys’ store network and production capacity, including a fresh snack production line, while additional training programs will focus on retail, digital and AI-related skills."

Since beginning operations in Lebanon, the EBRD has invested more than 864 million euros in the country, focusing on private-sector competitiveness, trade finance, sustainable energy and public services, according to the statement.