EBRD supports pioneer seed company in climate adaptation and earthquake recovery

• EBRD provides loan to support the MAY Seed’s working capital and capex needs
• Company will continue developing climate-resilient seeds after earthquake disruptions
• Project deepens long-standing relationship with MAY Seed

The European Bank for Reconstruction and Development (EBRD) is providing a €20 million loan to Türkiye’s May Agro Tohumculuk, Sanayi Ve Ticaret Anonim Şirketi (MAY Seed) to support the company’s working capital and capex needs in the aftermath of the 2023 earthquakes, which disrupted the company’s sales, supply and logistics.

The funds will also finance the company’s continuing efforts to develop new crop varieties that are more tolerant to climate stress.

With the EBRD’s support, MAY Seed will continue to aid its farmers to continue producing climate-resilient seed varieties and distribute these competitively, reviving the supply chain despite the earthquake’s impact.

MAY Seed, one of the leading local seed producers in the country, is also one of the few market participants in the country undertaking large-scale seed-breeding and research and development (R&D) programmes. In 1997, the company became the first private local producer in Türkiye to start R&D programmes to develop seed varieties that were resilient to climate change.

Natalia Zhukova, the EBRD’s Head of Food and Agribusiness, said: “We commend MAY Seed for its pioneering efforts in seed production R&D, driving innovation in climate resilience and adaptation to safeguard global agriculture. Our support will ensure that the company continues to strengthen, following the disruptions caused by the devastating earthquakes. Its dedication to sustainable and climate-smart seed production remains a cornerstone of agricultural progress and food security.”

Yusuf Yormazoğlu, Co-Chairman of MAY Seed, commented: “We have enjoyed a strong and long-standing partnership with the EBRD. Considering the challenging economic conditions both globally and in Türkiye over the past five years, this financing support is particularly valuable and meaningful for us. We are truly grateful for the trust and support EBRD has shown us. It enables us not only to strengthen our company’s resilience, but also to make a more effective and sustainable contribution to both Turkish and global agriculture. By developing climate-resilient seed varieties, we aim to help secure the future of our farmers – and partnerships like this allow us to pursue that goal with even greater impact. We sincerely thank EBRD for their continued confidence in us.”

The EBRD is one of Türkiye’s key investors, having committed more than €22 billion in the country since 2009 through 495 projects and trade finance limits, mostly in the private sector.