Netlog Logistics



Project number:


Business sector:


Notice type:


Environmental category:


Approval date:

28 Apr 2020



PSD disclosed:

08 May 2020

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project Description

This project was approved under the Bank's Resilience Framework, approved by the Board of Directors on 13 March 2020 in response to the COVID-19 pandemic.  In light of the urgent need to deliver this project, the President granted a deviation from the timelines for disclosure of PSDs under the Resilience Framework, as contemplated by Section V of the Directive on Access to Information. The deviation approved by the President provides that disclosure of PSDs for projects approved under the Resilience Framework may be deferred, but shall be disclosed as early as practicable, and in any event no later than the date of signing.

The Project involves the provision of a senior loan of up to EUR 25 million to be provided to Netlog Lojistik Hizmetleri A.S. under the Bank's Resilience Framework.

Project Objectives

The proceeds of EBRD financing will be used to finance Netlog's liquidity needs during the Covid-19 outbreak.

Transition Impact

ETI score: 60

The transition impact of the project stems from the following qualities:

Competitive. The project stimulates the expansion of competitive market interactions by providing better access to cold storage in Turkey and enhancing distribution networks for temperature controlled food products.

Well-governed. The project improves standards for corporate governance and business conduct in the areas of energy efficiency, traceability and environment, health and safety. 

The goal of this operation is to preserve the transition gains achieved.

Client Information


Netlog, established in 1984, is the parent company of the Netlog Logistics Group, a Turkey based internationally acclaimed full-scale integrated logistics service provider.

EBRD Finance Summary

EUR 25,000,000.00

Up to EUR 25 million senior loan with a maturity of up to 2 years.

Total Project Cost

EUR 25,000,000.00


EBRD financing effectively bridges a liquidity gap due to the adverse market conditions during the Covid-19 crisis and sustain the much-needed business.

Environmental and Social Summary

Categorised B (2019 ESP).

Environmental and Social (E&S) risks and impacts associated with the use of proceeds are generally limited and relate to ongoing operations. Environmental and social due diligence (ESDD) included a review of annual reports and Environmental and Social Action Plan (ESAP) updates under the previous recent transaction as well as follow up discussions with Netlog. ESDD has shown that Netlog has sufficient capacity to manage E&S risks associated with its operations in line with the Bank's requirements. The company has adopted a robust approach to managing Covid-19 health and safety risk. Covid-19 related worker reductions have been avoided up until now through worker redeployment, annual leave and remote working. Any future collective dismissals of workers will need to be conducted in line with the Bank's requirements and all alternatives considered to reduce dismissals. Further, robust mechanisms and forums for worker engagement will need to be maintained and enhanced where necessary. A variety of management systems are in place within the Netlog companies to manage E&S issues. Netlog will need to maintain and enhance these to ensure a consistent corporate approach to E&S risk management. Through the previous transaction, and follow up discussions, an improved approach to health and safety management has been observed. This will need to be maintained, and enhanced where necessary in response to the pandemic, to reduce health and safety incidents. A key risk area is transport as the Netlog companies operate a large vehicle fleet. Vehicles are subject to a tracking and vehicle management system to reduce risks and maximise efficiencies. Netlog maintains an external grievance mechanism through its website and plans to publish an annual sustainability report. An ESAP will be agreed with Netlog before signing and the company will be required to report to the Bank on an annual basis.

Technical Cooperation and Grant Financing


Company Contact Information

Cevat Sarikaya
+90 (212) 622 5000
+90 (212) 622 50 45-46
Orhan Gazi Mh. Tunç Cd. No: 1 Esenyurt / Istanbul / TURKEY

PSD last updated

08 May 2020

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP 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 following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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