Yesterday, the European Bank for Reconstruction and Development (EBRD) announced that it is providing a €60 million loan to Anadolu Etap, the leading fruit producer in the country. The EBRD is a major investor in Turkey.
Anadolu Etap supplies fruits and produces fruit puree, concentrates and juices that are sold throughout Turkey and 60 other countries. The new financing will help the company ensure continuous growth despite the uncertainty caused by the pandemic.
"A loan maturity of six years provides greater flexibility and resources to fund capital needs as demand increases both at home and abroad," the statement said.
"There is no doubt about the severity of the impact of the coronavirus outbreak on agriculture in Turkey and elsewhere," noted Arvid Tuerkner, EBRD’s managing director for Turkey.
By providing finance to Anadolu Etap, he added, the EBRD is also supporting local farmers and livelihoods in rural areas. Anadolu Etap will also join forces with educational institutions to improve the transfer of knowledge and skills to farmers and provide greater training and employment opportunities to Syrian refugees.
"The loan from the EBRD and FMO is an indication of the lenders’ trust in Turkey, our company and in the Turkish agriculture sector," Bahadir Acik, CEO of Anadolu Etap told aa.com.tr.
