EBRD provides loan to Turkish agrifood company Yayla
Loan to finance the firm’s investment programme and working capital needs
Yayla to strengthen its sustainability credentials
The European Bank for Reconstruction and Development (EBRD) is providing EUR55 million to T?rkiye‘s Yayla to finance an investment programme that includes equipment for the agrifood company’s facilities in Central Anatolia.
The Taiwan International Cooperation and Development Fund and the EBRD’s Clean Technology Fund will both contribute to the financing.
The loan will allow the company to commit to greener energy sources and purchase efficient machinery and equipment for its state-of-the-art facility in Nigde, Central Anatolia. The investment will also allow Yayla to cover its working capital needs.
As part of the agreement, Yayla will commit to improving its corporate climate governance, in line with industry best practices, and to adopting a comprehensive climate change strategy, strengthening the company’s sustainability credentials. The investment will also enable Yayla to develop a green capex programme to undertake resource efficiency improvements and to reduce greenhouse gas emissions and electricity consumption in its operations.
For decades, Yayla has specialised in the production and processing of pulses, rice and bulgur wheat products. The firm is 69 per cent owned by Hasan Gumus, its founder, and the rest is publicly traded.
To date, the EBRD has invested more than EUR18 billion in various sectors of the Turkish economy, largely in the private sector.
