Project number:


Business sector:


Notice type:


Environmental category:


Approval date:

10 Dec 2013



PSD disclosed:

09 Oct 2013

Project Description

The EBRD will provide an up to EUR 80 million long-term loan to Kilic. The loan will support the Company’s investment programme including acquisition of new aqua licenses/cages and support, feed mill and laboratory upgrade, processing and packaging lines, help restructure its balance sheet and provision of working capital.

Transition Impact

The project will be a showcase for innovations to improve productivity in the Turkish aquaculture sector with strong potential for replication. Through this investment a lab-based feed quality management system and upgrades of the feed mill will be supported, resulting in higher feed quality, a better feed conversion and lower mortality rate of the fish stock. Further the fish processing and packaging upgrades will result in improved traceability and introduction of higher food safety standards.

The Client

Kilic and its subsidiaries operate a vertically integrated aquaculture business for marine and fresh water finfish products, from hatcheries to harvested product processing and packaging under its own brand. The company is 80% owned by the Kilic family and 20% - by NBK Capital.

EBRD Finance

Up to EUR 80 million.

Project Cost

Up to EUR 100 million.

Environmental Impact

Categorised B. A member of the Bank’s E&S department undertook an initial visit to the company’s site office to hold meetings with the technical and environmental and social (E&S) specialists within the firm, and to ascertain local community concerns with regard to the impact of the company’s operations.

The Bank's E&S team prepared and issued a ToR for an Environmental and Social Due Diligence (ESDD). The ESDD was undertaken by an independent consultancy firm to review the company’s capacity, policies and procedures for managing E&S issues. Key elements of the ESDD were to establish the impacts of the company’s operations, secondly provide suitable mitigation recommendations and thirdly to design appropriate stakeholder engagement approach. The E&S DD consisted of visits to production sites, interviews with staff and a detailed review of the E&S documentation.

The independent E&S audit report detailing the company’s impacts within the waters around Bodrum, and the key concerns of stakeholders has yet to be received by the Bank. The E&S team have however received a summary email from the consultants outlining key observations and a summary of the site visits. The Final report is pending from the consultants.

The ESAP which has been produced for the client is in the process of being reviewed. Critical elements around the ESAP will be the level of stakeholder engagement which is deemed appropriate for the project. The Bank is awaiting an update from the consultants on the Stakeholder Engagement Programme (SEP).

The Bank will update the PSD upon receipt of the ESDD.

Technical Cooperation


Company Contact

Tarkan Karadibak
Tel: +90 252 559 0283; Fax: +90 252 559 0287


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Share this page: