The European Bank for Reconstruction and Development (EBRD) is extending up to 20 million euroes loan in financing to Tat Gıda, one of Turkiye’s key food producers specialising in plant based food.
Tat Gıda the market leader in branded tomato paste, ketchup and canned food.
The new EBRD loan will finance Tat Gıda’s initiatives for increasing productivity and capacity increases according to the company’s growth plans, the bank said in a statement.
Tat Gıda, recently celebrating 55 years in the business,is part of the Koç Group, Turkiye’s largest industrial and services group in terms of revenues and exports.
Speaking on the project, Natalya Zhukova, EBRD’s Agribusiness Sector Team Director said: “We are happy to support Tat Gıda’s growth trajectory and sustainability credentials. The recent global crises have made it clear that food security is a key concern of our era. We must work with producers who prioritize healthy, sustainable modes of production in the food sector, and we believe Tat Gıda is a perfect example for that.”
As part of the project, EBRD and Tat Gida will also collaborate by supporting youth inclusion in the agribusiness sector in Turkiye by introducing a new training program aimed at equipping young people with the skills needed to adopt modern agricultural technologies and digital applications for high-value food processing activities.
Tat Gıda will also work to reinforce its existing sustainable initiatives by enhancing digital transformation in agriculture and food production according to its corporate sustainability strategies.
The EBRD has invested more than 17 billion euros in 385 projects in Turkiye ince 2009, with the overwhelming majority of those projects being in the private sector.