Translated version of this PSD: Turkish
The EBRD is considering a senior loan of up to EUR 20 million to Yayla Agro Gida San. ve Nak.
A.S. one of the leading players in the production and processing of pulses and rice in Turkey.
EUR 6 million out of total financing will be provided by Taiwan International Cooperation and Development Fund. The loan will be utilised to (i) restructure the company's balance sheet by extending average tenor of its loan book through refinancing part of its existing short term loans, (ii)
finance its investment programme for ready-to-eat products and (iii) finance its incremental working capital needs.
The loan will be utilised to restructure its balance sheet by extending average tenor of its loan book through refinancing part of its existing short term loans. Furthermore, a part of the loan will be utilised to finance the company's investment programme for ready-to-eat products and finance its incremental working capital needs.
The project transition impact potential is expected to derive from improvements in the corporate governance of the company, from setting standards in terms of certifications, and from market expansion through the production of new value-added products.
Yayla Agro Gida San. ve Nak. A.S., is one of the leading players in the production and processing of pulses and rice.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Categorised B . The project-associated potential adverse impacts are limited to the standard environmental, health & safety, and social issues typical for the food sector. Environmental and social department has undertaken an in-house environmental and social assessment and has confirmed that the project can be structured to meet EBRD performance requirements. The company has required capacity to implement the project in line with the Bank's environmental and social policy. An environmental and social action plan (ESAP) has been drafted and agreed with the company.
The environmental and social due diligence included a review of the company's existing environmental & social (E&S) management systems, regulatory compliance, E&S performance records, labour and social issues. The due diligence has indicated that the current environmental, occupational health, safety and social practices and management systems are generally in line with the national legislation.
The major issues identified during environmental and social due diligence that require improvement actions include consistent implementation of the E&S management systems throughout the company, proper risk assessment and incident analysis, contractor and supply chain management, human resources and social practices.
A number of recommendations were formulated into an environmental and social action plan (ESAP) that include, inter alia: improvement of the corporate E&S management system and supervision, incident root-cause and trend analysis and preventive measures, proper contractor management, implementation of a supply chain management system, update of the existing human resources policies. It also includes a grievance mechanism and the introduction of a stakeholder engagement plan (SEP). The company and its activities will be subject to regular monitoring by the Bank's specialists or appointed consultants.
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