EBRD grants loan to support sustainability at Turkish snack company Ulker
March 15, 2023 at 02:41 pm IST
Share
The European Bank for Reconstruction and Development (EBRD) is extending a EUR75 million sustainability-linked loan to Turkiye's Ulker Biskuvi Sanayi A.S.
This is the first sustainability-linked loan extended to Ulker by the EBRD. It is part of a larger refinancing package provided by an existing syndication facility.
The new loan will help the company reduce greenhouse gas emissions within its own operations and throughout its supply chain, as well as boosting its water use efficiency and waste recycling rate. Ulker will also be working towards increasing the representation of women across its operations and supporting women's career development within the company.
Ulker is one of Turkiye's leading snack brands, with a diverse product portfolio including biscuits, cakes and chocolate. Ulker is a publicly traded company, with majority shares belonging to Pladis Foods Limited, which is owned by Yildiz Holding.
The company already has a strong track record in sustainability. Its comprehensive approach involves embracing a zero-waste corporate culture, using science-based decarbonisation targets and transitioning to more circular business models.
The EBRD invested more than EUR1.6 billion in Turkiye in 2022, mainly in the private sector. To date, the Bank has invested more than EUR17.2 billion in the country.
Ulker Biskuvi Sanayi AS, formerly Ulker Gida Sanayi ve Ticaret AS, is a Turkey-based food manufacturer, specializing in cookies, crackers, chocolate covered cookies and wafers. The Company offers products under such brand names, Potibor, Cizi, Krispi, Haylayf, Mavi Yesil, Hanimeller, Bebe Biscuits, Biskrem, Krim Kraker, Probis, Cokoprens, As Kraker, Basak, Ikram and Canpare, among many others. Ulker Biskuvi Sanayi AS 's products are mainly exported to the Middle East, Russia and Central Asian Republics, as well as to Europe. The Companyâs subsidiaries include Istanbul Gida Dis Ticaret AS, Atlas Gida Pazarlama Sanayi ve Ticaret AS, Birlesik Dis Ticaret AS, Ulker Cikolata Sanayi AS, Reform Gida Pazarlama Sanayi ve Ticaret AS and Sabourne Investments Ltd.