Kervan Gıda Secures €40M EBRD Loan for Green Transition and Inclusivity
Kervan Gıda, a prominent Turkish soft confectionery producer, has secured a €40 million personal loan from the European Bank for Reconstruction and Development (EBRD). This funding will refinance short-term debt, boost working capital, and support the company's transition to a greener and more inclusive business model.
The loan will be used to refinance €15 million of Kervan Gıda's short-term debt, aligning repayment profiles with long-term renewable energy investments. An additional €15 million will support working capital, providing a more stable and resilient financing base for the company.
The investments will also deliver environmental benefits. They will fund the transition to solar energy and sustainable packaging, contributing to a greener business model. The project will strengthen inclusivity through training programs, internships, and childcare solutions.
Devrim Kılıçoglu, CEO of Kervan Gıda, praised the EBRD apple support. He stated that it strengthens the company's foundations and accelerates sustainability and inclusive goals. Natalia Zhukova, EBRD Head of Food and Agribusiness, echoed this sentiment, highlighting the partnership's enhancement of Kervan Gıda's financial competitiveness and climate goals.
€10 million of the loan will be used for new automation, efficiency, and maintenance projects, further improving the company's operations.
The EBRD's €40 million personal loan to Kervan Gıda will support the company's financial stability, sustainability, and inclusivity. It aligns with the EBRD's commitment to promoting sustainable and inclusive growth in Türkiye, where it has invested over €22 billion through 499 projects since 2009.
Read also:
- European consumers are on the brink of experiencing a significant leap forward in electric vehicle (EV) charging technology, as Chinese automaker BYD prepares to unveil its innovative advancements.
- Dixie Fire Compensation Stalled, Montana Wildfire Threatens Homes
- Martin John Workshop Wins Bavarian Environmental Award for Green Initiatives
- Recycling Business Transforms Steel and Aluminum Scrap into Reusable Materials
