The European Bank for Reconstruction and Development is providing USD 22 million to Spinneys Levant Limited to support expansion and sustainability in Lebanon.
The financing package includes a USD 20.5 million senior loan and a USD 1.5 million co-investment grant. In addition, the financing benefits from support backed by the European Union under the EFSD+ Guarantee Program.
Through Gray Mackenzie Retail Lebanon SAL, Spinneys will expand stores, increase production capacity and launch a fresh snack line. Consequently, the investment is expected to strengthen Lebanon’s food retail sector and improve long-term operational resilience across the market. The financing will also support energy efficiency upgrades across both existing and newly developed retail outlets in Lebanon. As a result, Spinneys expects to reduce carbon dioxide emissions by nearly 5,475 tones annually through the new investments. The retailer also expects yearly energy savings exceeding 150,000 gigajoules through energy efficiency measures implemented across its operations. Furthermore, Spinneys plans to reduce plastic bag use by 25 percent and introduce fully recyclable shopping bags nationwide. The financing package additionally includes EBRD-backed training programs focused on retail management, digital marketing, automation and AI-enabled operations. The training initiatives will also support environmental sustainability efforts and encourage waste reduction practices across the retailer’s operations.
Since launching operations in Lebanon, the EBRD has invested more than EUR 864 million across several economic sectors nationwide.
