ANNOUNCEMENT 22 May 2020

On 22 May 2020, the European Bank for Reconstruction and Development announced providing EUR 25 million working capital loan to Yayla Agro.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Bank for Reconstruction and Development, News, “EBRD helps Turkish pulses producer Yayla meet rising demand”. Available at: https://www.ebrd.com/news/2020/ebrd-helps-turkish-pulses-producer-yayla-meet-rising-demand.html

Inception date: 22 May 2020 | Removal date: open ended

State loan

On 22 May 2020, the European Bank for Reconstruction and Development announced providing EUR 25 million (USD 27,25 million) working capital loan to Yayla Agro (Yayla) to support its day-to-day operations.

The global demand for pulses has grown rapidly during the Coronavirus pandemic. Yayla is one of the largest producers of dry beans and other pulses in Turkey. Financing from EBRD will help Yayla meet the raising demand both at home and abroad.  

The financing from EBRD is part of the EBRD’s efforts to fight with the adverse effects of the Coronavirus pandemic. EBRD announced allocating EUR 21 billion (22,89 billion) over the 2020-2021 period to mitigate the impacts of the pandemic and support recovery.

Previously on 3 April 2017, provided EUR 20 million (USD 21,8 million) loan to Yayla for the construction of a production facility (see related state act).

AFFECTED SECTORS