EBRD loan will finance construction of new plant for Isik Organic
Turkey’s leading exporter of organic dried fruits and nuts, Isik Organic, will expand its production and reduce waste with a €16 million loan from the European Bank for Reconstruction and Development.
The financing includes a €1.5 million loan from the Clean Technology Fund under the EBRD’s Near Zero Waste programme.
The EBRD funds will enable the company to build a new hazelnut processing plant in Eregli, in the Black Sea region of Turkey, and finance the expansion of freeze-dried fruit production at its Afyon plant in Central Anatolia. The loan will also cover increased working capital needs, which will allow it to support more organic farmers across six different regions of Turkey.
The Clean Technology Fund’s support will allow the company to improve its land management, introduce energy and resource-saving technologies as well as reduce and recover waste, reconfirming its commitment to sustainability.
