| Project Detail |
The provision of €150 million long-term loan consisting of (i) €83 million of Green Facility and (ii) €67 million of Investment Facility, to Arcelik A.S., a Turkish company engaged in production, sales and aftersales services of consumer durable goods and consumer electronics, to finance the companys investment programme that includes (i) green investments under the Companys Green Financing Framework , (ii) new production line and (iii) other modernisation and health and safety investments at the companys manufacturing units in Turkey.
Project Objectives
The proceeds of the financing will be used by the company to support the investment programme at its manufacturing facilities in Turkey over the perios of 3 years.
The Green Facility will finance Arceliks green investments under its GFF across its production facilities in Turkey. The Investment Facility will finance (i) modernisation investments in Eskisehir Refrigerator Plant, (ii) new production line in Eskisehir Refrigerator Plant, (iii) modernisation, health and safety, and other investments in Bolu Cooking Appliances Plant.
The Project is in line with the EBRDs Strategy for Turkey as it supports the energy and resource efficiency improvements and supports inclusion priorities. The Project is also aligned with the EBRDs Green Economy Transition Approach given its contribution to climate change mitigation and other environmental goals as well as promotion of international green capital markets standards and novel green financing instruments. |
