Turkish flour maker Ulusoy Un gets EBRD, TSKB loan to help it keep up with high demand amid lockdowns

By bne IntelIiNews January 14, 2021

Turkish flour producer Ulusoy Un is to get a fresh financial shot in the arm to help it keep up with high demand from pasta-makers, bakeries and locked-down customers as the coronavirus pandemic continues.

The European Bank for Reconstruction and Development (EBRD) and Turkiye Sinai Kalkinma Bankasi (TSKB, or the Industrial Development Bank of Turkey) are jointly providing a Turkish lira (TRY) 40mn ($5.4mn) loan to fund the company’s growing need for working capital. 

This is the third time that Ulusoy Un will benefit from the EBRD and TSKB co-financing programme, which aims to improve and simplify access to finance for businesses across Turkey.

Established in 1989, the company produces and sells flour used for the production of bread, biscuits, chapattis and noodles. With a daily wheat-processing capacity of 2,100 tonnes, it exports to 86 countries on five continents.

The EBRD is a major investor in the Turkish economy. In coronavirus-hit 2020, the EBRD provided €1.7bn in investment to Turkey.

Related Articles

Istanbul listed Sabanci Holding reports 2020 profit of 5bn lira

Istanbul-listed Sabanci Holding (SAHOL), the second largest conglomerate in Turkey behind Koc Holding (KCHOL), produced a 2020 profit of Turkish lira (TRY) 4.77bn, almost exactly a billion lira up ... more

Turkey’s Turkven sells 33% stake in London listed DP Eurasia for GBP25mn

Turkish private equity fund Turkven has sold its 32.81% stake in DP Eurasia (DPEU/London) to Jubilant Foodworks, the largest food service company in India, for GBP24.8mn, DP ... more

EBRD provides $100mn loan to support green investments and women entrepreneurs in Turkey

The European Bank for Reconstruction and Development (EBRD) has provided $100mn in funds to Turkish private lender Denizbank to finance local companies’ investments in green technologies and ... more

Dismiss