The European Bank for Reconstruction and Development (EBRD) is to loan an East European subsidiary of Pernod Ricard US$7.3m for seven years, it was reported today.

Europe Information Agriculture reported that the EBRD would loan Georgian Wines and Spirits Ltd the money to help it improve its marketing, packaging and wine quality. The company will also look to restructure its distribution and management systems.
The deal is the second loan to GWS after a US$5m loan in 1999 and the third investment in the Georgian wine industry by the EBRD.