Tiryaki Agro Trading (Term Facility)

Location:

Turkey

Project number:

49742

Business sector:

Agribusiness

Notice type:

Private

Environmental category:

B

Approval date:

17 Jan 2018

Status:

Disbursing

PSD disclosed:

13 Dec 2017

Translated version of this PSD: Turkish

Project Description

A senior loan of up to USD 20 million as part of a long-term loan facility to Tiryaki Agro Gida which produces, processes, stores, and trades in agricultural food products in Turkey.

Project Objectives

The project will provide the company with reliable long-term funding for working capital requirements. It will also refinance a part of an existing loan.

Transition Impact

The transition impact of the project is expected to derive from its contribution to the "competitive" and "integrated" qualities. The project will support the company to (i) steer business towards organic trading, enhance its margins and growth prospects, and (ii) boost exports.

Client Information

TIRYAKI AGRO GIDA SANAYI VE TICARET AS

Tiryaki Agro Gida A.S., is the leading Turkish corporate in trading of agricultural commodities with activities in Turkey and the wider region, including the CIS, MENA and North American countries.

EBRD Finance Summary

USD 20,000,000.00

Total Project Cost

USD 65,000,000.00

Environmental and Social Summary

Categorised B in accordance with the 2014 Environmental and Social Policy. Tiryaki is an existing client and Environmental and Social Due Diligence (ESDD) under the 2008 Environmental and Social Policy was undertaken as part of previous projects with the client by EBRD and co-financiers: FMO, the Dutch development bank, and Proparco, an investment arm of the French Development Agency.

Tiryaki has indicated good progress against previous Environmental and Social Action Plan items and adequate reporting. ESDD for the new project was led by FMO and supported by the EBRD's Environment and Sustainability Department. The Bank's 2014 Environmental and Social Policy has been considered in the context of the new transaction. Given the nature of operations, sector and the geography, the company has appointed a consultant and developed a supply chain management system to address issues associated with management of labour in the supply chain.

Under the new project, the company has agreed to formalise this system through accreditation by a recognised body, BSCI and/or SEDEX. This has been included in the updated Environmental and Social for the new project. In addition, the company has agreed to update the review of all operational facilities and obtain ISO14001 and OHSAS18001 certification. FMO will be the lead the environmental and social monitoring of the project with support from the EBRD.

Technical Cooperation

None.

Company Contact Information

Ertan Akbulut
ertan.akbulut@tiryaki.com.tr
+90 (216) 333 20 00
http://www.tiryaki.com.tr/

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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

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 how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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