- €75 million sustainability-linked loan issued to one of Türkiye’s leading snack brands, Ulker
- Loan to strengthen Ulker’s sustainability credentials
The European Bank for Reconstruction and Development (EBRD) is extending a €75 million sustainability-linked loan to Türkiye’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 Türkiye’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 €1.6 billion in Türkiye in 2022, mainly in the private sector. To date, the Bank has invested more than €17.2 billion in the country.