MIGROS GETS EUR 60M LOAN FROM EBRD

The European Bank for Reconstruction and Development (EBRD) will provide a EUR 60m loan to the food retailer Migros. The company plans to enhance gender balanced employment and to further increase energy efficiency of its store network. Migros will develop action plans supporting gender equality and equal opportunities as well as plans to support recruitment strategies responsible for creating more career opportunities for women in the workplace. The goal is to employ over 2,000 women in order to meet additional labor needs in the retail sector. Moreover, Migros aims to head towards renewable energy and technologies, providing energy savings in line with its sustainability strategy. It will also open new stores or renovate its existing stores in order to meet customer demand. Migros will also work with EBRD in order to reduce the ecological footprint of its branded products.