Haberler      English      العربية      Pусский         Kurdî      Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 14/10/2019 12:36 
15.03.2019 15:05 News >> European Bank Lends $170M To Turkish Firm Arcelik

European Bank Lends $170M To Turkish Firm Arcelik

Turkey's white goods producer to use loan to develop new eco friendly products, strengthen exports, bank says.

The European Bank for Reconstruction and Development (EBRD) lent Turkish lira equivalent of €150 million (some $170 million) to Turkey's white goods manufacturer Arcelik.

Arcelik will use loan of almost 1 billion Turkish lira to finance development and manufacturing of more energy-saving home appliances, according to a statement from the EBRD on Friday.

The company plans to bring all research and development activities under one roof in a new state-of-the-art R&D center.

Progress in this field will strengthen the export potential of Arcelik.

"The support of an international financial institution such as the EBRD is a sign of recognition of our strong and sustainable business in Turkey as well as of our global ambitions," Arcelik's Chief Financial Officer Polat Sen said.

Arvid Tuerkner, EBRD managing director for Turkey, said as Arcelik continues to innovate, the bank is delighted to provide financing and become part of the company's success.

Founded in 1955, electronics and appliances manufacturer Arcelik exports to nearly 150 countries with 30,000 employees.

Since 2009, the EBRD has invested nearly €11 billion (approximately $13 billion) in Turkey -- a top destination for the bank's finance -- through more than 280 projects. -



        Latest News
Turkish Drones Hit YPG/PKK With Pinpoint Accuracy 15 minutes ago...
Armed drones destroy YPG/PKK terrorist targets who plan to kill civilians in southern Turkey, according to official footage.
Catalan Separatist Leaders Receive 9-13 Years In Prison 30 minutes ago...
More severe charges of rebellion up to 25 years prison sentence dropped.
Erdogan Blasts Global Smear Campaign On Turkey's Op -15 minutes ago...
Foreign media always using same tactic of misinformation, says Turkish president.
Turkish Party Leader Returns To Office After Treatment -15 minutes ago...
Nationalist Movement Party leader Bahceli took 21 day break after his treatment at hospital on Sept 23.
Turkey 'Determined' To Carry On Operation Peace Spring 0 minutes ago...
Turkish presidential advisor says arming terrorist group to fight another is 'ill conceived' policy.

 
      Top News
Turkey 'Determined' To Carry On Operation Peace Spring Turkey 'Determined' To Carry On Operation Peace Spring
1 Child Dead As Migrant Boat Sinks Off Western Turkey 1 Child Dead As Migrant Boat Sinks Off Western Turkey
Diary Diary
480 Terrorists 'Neutralized' By Turkey's Anti-Terror Op 480 Terrorists 'Neutralized' By Turkey's Anti-Terror Op
Turkey Condemns Arab League Chief's Remarks Turkey Condemns Arab League Chief's Remarks
Arab Foreign Ministers Meet In Cairo Over Syria Arab Foreign Ministers Meet In Cairo Over Syria
Arab Foreign Ministers Meet In Cairo Over Syria Arab Foreign Ministers Meet In Cairo Over Syria
Turkey's Belozoglu To Miss France Match After Injury Turkey's Belozoglu To Miss France Match After Injury
Turkey Sells Agricultural Machinery To 130 Countries Turkey Sells Agricultural Machinery To 130 Countries
Syrians Rally In Support Of Turkish Anti-Terror Push Syrians Rally In Support Of Turkish Anti-Terror Push