EBRD Grants $200M Loan For Green Initiatives In Türkiye

10/18/2024 7:02:46 AM

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 18. The European Bank for Reconstruction and Development (EBRD) has announced a significant A/B loan of $200 million to A101, one of Türkiye's largest discount retailers, aimed at bolstering the company's green initiatives, Trend reports.

The loan structure consists of a $100 million A loan from the EBRD and a $100 million B loan that will be syndicated to commercial lenders. Of the total funding, $100 million is committed, with the EBRD providing $82 million and the Green for Growth Fund contributing the remaining $18 million.

The financing will facilitate A101's medium-term capital expenditure program, which includes the opening of new stores and warehouses throughout Türkiye, refurbishing existing stores with climate mitigation measures, and installing solar panels to enhance internal energy consumption.

As the largest retail chain in Türkiye, A101 operates over 13,600 stores nationwide and is owned by Turgut Aydin Holding Company. This loan will enable A101 to strengthen its sustainability efforts by reducing energy consumption and carbon emissions, installing solar panels, and implementing resource efficiency measures across its operations.

The EBRD has been a key investor in Türkiye, with more than 20 billion euros invested across 455 projects and trade finance limits since 2009, primarily in the private sector. This latest financing underscores the EBRD's commitment to supporting sustainable development in the region.

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