The European Bank for Reconstruction and Development (EBRD) has announced a €55 million loan to Turkish agrifood company Yayla to support its investment program and working capital needs. The loan will facilitate Yayla’s commitment to sustainability and the implementation of greener energy sources and efficient machinery in its facilities located in Central Anatolia.
The financing for the loan will be contributed by both the TaiwanICDF and the EBRD’s Clean Technology Fund. With this investment, Yayla aims to enhance its state-of-the-art facility in Nigde, Central Anatolia, by adopting greener practices and acquiring modern equipment. The loan will also cover the company’s working capital requirements.
As part of the agreement, Yayla commits to improving its corporate climate governance in alignment with industry best practices. The company will develop a comprehensive climate change strategy, strengthening its sustainability credentials. Additionally, the investment will enable Yayla to implement a green capital expenditure (capex) program focused on resource efficiency improvements, reducing greenhouse gas emissions, and lowering electricity consumption in its operations.
Yayla has been a prominent player in the production and processing of pulses, rice, and bulgur wheat products for several decades. The company is 69 percent owned by its founder, Hasan Gumus, with the remaining shares publicly traded.
The EBRD has a long-standing presence in Turkey, having invested over €18 billion across various sectors of the Turkish economy, primarily in the private sector. This loan to Yayla demonstrates the bank’s continued commitment to supporting sustainable and environmentally friendly investments in the country.
https://www.ebrd.com/news/2023/ebrd-loan-to-support-green-investments-by-turkish-agrifood-firm.html