Haberler    English    العربية    Pусский    Kurdî    Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 22/03/2019 10:33 
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
Group Of Muslim Nations Discussing Nz Terror Attacks 31 minutes ago...
Members of Organization of Islamic Cooperation meet Friday in Istanbul after last week's twin mosque attacks in New Zealand.
Uludag Economy Summit Kicks Off At Turkish Ski Resort 31 minutes ago...
Two day event gathers businesspeople, economists, top officials, academics around the world.
UK Academics Discuss What Comes Next For Brexit 1 minutes ago...
With just a week to go before scheduled divorce date, event at Essex University discusses contingencies.
Turkish Classes Give US Students Global Outlook 1 minutes ago...
Eager students plan to travel to Turkey after studying in Washington to test out their language skills.
Diary 16 minutes ago...
Here are the main topics Anadolu Agency’s English Desk plans to cover on Friday, March 22, 2019.

 
      Top News
Mozambique: Thousands Trapped After Cyclone Hits Mozambique: Thousands Trapped After Cyclone Hits
Update 2 - Trump: Time To Recognize Israeli Control Of Golan Update 2 - Trump: Time To Recognize Israeli Control Of Golan
British Police To Continue Protection Of London Mosques British Police To Continue Protection Of London Mosques
Turkey Slams Czech Statements On Turkish President Turkey Slams Czech Statements On Turkish President
Update - Turkish Consumer Confidence Surges İn March Update - Turkish Consumer Confidence Surges İn March
Pakistan: 6 Security Personnel Killed İn Terror Attack Pakistan: 6 Security Personnel Killed İn Terror Attack
Trump Says Relations 'Very Good' With Pakistan Trump Says Relations 'Very Good' With Pakistan
Turkish Red Crescent To Help Cyclone-Hit Se Africa Turkish Red Crescent To Help Cyclone-Hit Se Africa
Trump Seeks Free Trade Agreement With Japan Trump Seeks Free Trade Agreement With Japan
Turkey, Iran Discuss Joint Anti-Terror Op. Against Pkk Turkey, Iran Discuss Joint Anti-Terror Op. Against Pkk