EBRD provides 55 mln euros to Yayla

ISTANBUL

The European Bank for Reconstruction and Development (EBRD) is providing 55 million euros to Türkiye’s Yayla to finance an investment program 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 development bank said in a statement.

“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 Niğde, 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 statement added.

The investment will also enable Yayla to develop a green capex program to undertake resource efficiency improvements and to reduce greenhouse gas emissions and electricity consumption in its operations, according to the development bank.

To date, the EBRD has invested more than 18 billion euros in various sectors of the Turkish economy, largely in the private sector.