- €15 million EBRD loan to support Uludag, one of Turkey’s leading soft drinks producer
- R&D investments to enhance product quality and support growth
- Uludag a long-standing EBRD client in Turkey
Uludag, one of Turkey’s leading beverage producers, will expand its operations with a €15 million loan from the European Bank for Reconstruction and Development. The loan will finance research and development (R&D) investments that will enhance the company’s competitiveness at home and abroad.
A firm with a century-long history, Uludag is run by the third and fourth generations of the founding family. It operates two modern facilities in Turkey’s northwestern province of Bursa where it bottles soft drinks and mineral water. Named after a picturesque nearby mountain, Uludag is a household name in Turkey but also popular abroad, including in the Middle East and North Africa and in Central Asia.
Committed to continuous modernisation, Uludag will use the EBRD loan to invest in R&D and production upgrades, in working capital needs and in the refinancing of short-term debt. The new funds will also help the company boost its export potential and emerge stronger from the coronavirus pandemic.
The EBRD is a leading institutional investor in Turkey and to date has invested almost €13.5 billion in the country through about 340 projects, with 96 per cent of these in the private sector. In 2021, the Bank will focus on investments that support a sustainable and inclusive post Covid-19 recovery.