Borusan Lojistik secures $33 million EBRD loan

ISTANBUL

The European Bank for Reconstruction and Development (EBRD) is providing a loan of $33.2 million to Borusan Lojistik to finance the company’s capital expenditure, including measures to boost competitiveness.

The loan proceeds will be used to finance several investments by Borusan Lojistik to upgrade and expand Borusan Port’s facilities, accelerate digitalization at the company and renew the logistics fleet, the EBRD said in a statement.

“The project responds to increased demand in the catchment area of Borusan Port by supporting quality improvements and capacity expansion to improve general cargo and project cargo services.”

The investments in digitalization are expected to directly boost Borusan Lojistik’s digital capabilities, service offering and pricing methods and contribute to the revenues and profitability growth of its third-party logistics business, the statement said.

Borusan Lojistik is a subsidiary of Borusan Holding, one of the largest conglomerates in Türkiye operating in the manufacturing, machinery and power systems, automotive, logistics and energy sectors.

Türkiye is one of the EBRD’s largest markets, and the bank has invested more than 19 billion euros in various sectors of the Turkish economy, mainly in the private sector, contributing significantly to sustainable economic growth in the country.