The European Bank for Reconstruction and Development (EBRD) recently announced that it provided a $22 million financing package to Spinneys Levant Limited, a leading retailer in the country operating through its subsidiary Gray Mackenzie Retail Lebanon SAL (GMRL). The financing package is broken down into a $20.5 million senior loan, secured by first-loss guarantee provided by the European Union, in addition to a $1.5 million co-investment grant to finance the company’s capital expenditure program in Lebanon, and support energy efficiency investments. Specifically, the financing will support Spinneys in implementing energy-efficiency initiatives across its retail network, including both new and existing outlets. These measures are expected to reduce energy consumption and lower emissions, with projected annual savings of 150,844 gigajoules (GJ) and a reduction of 5,474.74 in metric tons of CO2 emissions (tCO2). The financing will also support a 25 per cent reduction in plastic bag usage and the introduction of fully recyclable bags. In addition, Spinneys will be able to develop and implement specialized training initiatives targeting essential competencies, such as Retail Space Management, Brand Management, Digital Marketing, and Retail Automation, with a heavy emphasis on digital tools and AI-driven operations. Finally, it is worth noting that since the launching of its operations in Lebanon, the EBRD has invested more than €864 million in the country with the funding being primarily focused on boosting private-sector competitiveness, expanding trade finance, driving sustainable energy initiatives, and upgrading the quality and efficiency of public services.