The Swiss group will dedicate 41 million to new facilities and create 1,500 jobs
Numbers never tell the whole story. Nestle announced a small war investment in Ukraine on Monday that may be as important to its future as an €18bn aid dealt by the EU on the same day.
Nestlé will invest 41 million in new facilities that will be used to produce cold sauces, condiments, soups and instant foods. The group, which already has 5,800 employees in the country, will create another 1,500 in the process. Meanwhile, the EU reached an agreement with Hungary that will allow it to disburse aid to Ukraine next year. The IMF calculates that Ukraine’s deficit amounts to 5,000 million a month.
Although it is still at war, it needs Western help so the government can pay teachers, doctors and soldiers, and start rebuilding railways and power stations. Private investments will be just as crucial in helping the economy get off the ground. Nestle’s spending raises hopes that others will follow suit.
