| Project Detail |
Project Description
A long-term loan of up to EUR 150 million (or the equivalent in TRY) to Arcelik A.S. (the "Company"), a Turkish company engaged in production, sales and aftersales services of consumer durable goods and consumer electronics, to finance energy and resource efficiency investments at the Companys refrigerator plant in Eskisehir and washing machine plant in Cayirova, as well as the planned investment in a new R&D technology centre in Istanbul.
Project Objectives
The Project is in line with EBRDs Strategy for Turkey as it supports (i) competitiveness of Arcelik and the consumer durables industry overall through financing R&D investments and new product development; and (ii) the energy and resource efficiency improvements both at the production facility and at the consumer level. The Project is also aligned with the EBRDs Green Economy Transition (GET) Approach given the associated CO2 emission savings. |
