| Project Detail |
Location:
Turkey
Project number:
52681
Business sector:
Agribusiness
Notice type:
Private
Environmental category:
B
Approval date:
15 Dec 2021
Status:
Disbursing
PSD disclosed:
08 Mar 2022
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
A long-term loan of up to USD 50m (or the equivalent in TRY) in favour of Bunge Gida Sanayi ve Ticaret A.S. (the "Borrower"), a Turkish Borrower primarily engaged in the crushing, refining and bottling of branded and private label edible oils, to finance the Companys working capital needs and capital investments at Bunges plants in Ayvalik and Thrace. In addition, EBRD and Bunge will partner in sustainability projects in the country.
Project Objectives
The Project will enhance access to skills and economic opportunities for women farmers through the introduction of a training programme on more sustainable and productivity enhancing agricultural practices in olive farming. The Borrower will offer support and knowledge sharing to farmers on the use of climate smart practices in agriculture. The Bank will also support the Borrower to develop certified organic olive production by increasing the procurement of organic certified olive oil in Turkey, and supporting the launch of a technical cooperation assignment that will analyse the climate change resilience of the olive supply chain in order to identify areas of improvement in the carbon footprint of olive farming.
Transition Impact
ETI score: 71
Primary transition impact is "Inclusive", as the Project will introduce a new, replicable and nationally accredited training programme, leading to improved skills for women olive farmers in Turkey. The aim is to provide farmers (with a focus on women) in the whole olive geography of Turkey with the farming skills needed to increase the efficiency and climate resilience of their harvest, all the while ensuring economically worthwhile, environmentally friendly production.
Secondary transition impact is "Green", as the Bank will engage with the Borrower to improve supply chain management through sustainable raw materials sourcing, which will enable improved resource efficiency, climate change resilience and environmental standards in the Borrowers operations and supply chain. |
