The present invention relates to a genetically modified Methylobacteriaceae cell comprising at least one exogenous nucleic acid sequence encoding a glyoxylate reductase from the bacterium Escherichia, to a process for producing the genetically modified Methylobacteriaceae cell, to a biocatalyst comprising the genetically modified Methylobacteriaceae cell, to a bioreactor comprising the genetically modified Methylobacteriaceae cell, to a process for producing a product containing glycolic acid and lactic acid, and to a process for producing polyglycolic acid, polylactic acid or polylactide-co-glycolide.