The European Bank for Reconstruction and Development (EBRD) on Tuesday said it will provide a €15 million (nearly $18 million) loan to support Uludag, one of Turkey’s leading soft drinks producer.
According to a statement by EBRD, the loan will help the company expand its operations both at home and abroad.
“The loan will finance research and development (R&D) investments that will enhance the company’s competitiveness,” it said, adding this will also help the company enhance its export potential.
Previously, the EBRD had also provided a €30 million loan to Uludag.
As a leading institutional investor in Turkey, the EBRD has invested €13.5 billion through more than 340 projects in the country since 2009.
In 2021, the bank will focus on investments that support a sustainable and inclusive post COVID-19 recovery.