EBRD Funds A101’s Green and Inclusive Growth with $200 Million Sustainability Loan
(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) has provided a $200 million loan to Turkish retailer A101 to support its sustainability efforts. The loan will help A101 reduce energy consumption, install solar panels, and expand its store and warehouse network. In addition, A101 will run training programs, particularly in earthquake-affected regions, to boost workforce recovery and increase female participation. This partnership strengthens A101’s green credentials and workforce development, enhancing its position as a sustainable leader in Türkiye’s retail sector.
(PRESS RELEASE) LONDON, 19-Oct-2024 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD) has extended a $200 million A/B loan to Turkish discount retailer A101, one of the country’s largest retail chains, to enhance its sustainability efforts. Authored by Dilara Sarı, the initiative aims to help A101 implement a medium-term capital expenditure program that includes the opening of new stores and warehouses, refurbishing existing outlets with energy-efficient upgrades, and installing solar panels for internal energy consumption. The loan consists of $100 million from EBRD financing, while the remaining $100 million will be syndicated to commercial lenders.
A101, owned by Turgut Aydin Holding Company, operates more than 13,600 stores across Türkiye. The investment will enable A101 to reduce its carbon emissions and energy consumption, while positioning itself as a leader in sustainable retail operations. In addition to its green initiatives, A101 will deliver training programs for employees, with a special focus on the earthquake-affected regions. These programs aim to boost workforce recovery and improve skills for retail and warehouse workers, with 60% of new trainees expected to be women, enhancing female workforce participation and economic empowerment.
Wojtek Boniaszczuk, EBRD’s Regional Head for Food and Agribusiness, praised the collaboration, emphasizing the project’s contribution to both environmental sustainability and workforce inclusion. Aydin Group CFO Osman Yilmaz also expressed satisfaction, stating that the partnership would accelerate A101’s investment in innovation and sustainability while empowering its workforce.
The EBRD has been a significant investor in Türkiye, contributing over €20 billion across 455 projects since 2009, primarily in the private sector.
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Publish date : 2024-10-19 07:24:00
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