Garanti BBVA has extended €13 million in financing to packaged bread brand UNO to support the modernization of its production lines, aimed at improving energy efficiency and reducing carbon emissions.
According to a statement from the bank, the financing was provided under a $100 million cooperation agreement between Garanti BBVA and Spain’s national development bank Instituto de Credito Oficial (ICO). The funds were made available on January 30 and will be used for investments focused on increasing energy efficiency and lowering carbon emissions at UNO’s production facilities.
As part of the investment, new energy-efficient production lines will be installed to reduce natural gas and electricity consumption per unit of product.
Garanti BBVA recently surpassed the 1 trillion lira threshold in sustainable finance as of January, within the scope of its 3.5 trillion lira sustainable finance commitment covering the 2018–2029 period. The bank continues to play an active role in supporting the transformation of the real sector by financing renewable energy, energy efficiency, and low-carbon production investments.
The financing provided to UNO falls under ICO’s International Channel Program and represents one of the first concrete implementations of the agreement signed between ICO and Garanti BBVA in November. The agreement aims to provide up to $100 million in long-term financing for sustainability- and transformation-focused investments by companies in Türkiye with commercial and investment ties to Spain.
Garanti BBVA CEO Mahmut Akten stated that they are pleased to see one of the tangible outcomes of their cooperation with ICO in UNO’s energy efficiency investment.
“Through this financing, we are supporting investments that both enhance energy efficiency in industry and reduce carbon emissions. In line with our sustainable finance goals, we aim to strengthen the long-term resilience of the real sector by backing energy efficiency and low-carbon production investments,” Akten said.
Highlighting that the bank has exceeded 1 trillion lira in sustainable finance as of January, Akten noted that this milestone reflects their determination in the field and the tangible impact created together with their customers. He added that with the global strength of the BBVA Group, the bank will continue to contribute to the Turkish economy and provide long-term solutions to support clients’ sustainable transformation journeys.
UNO Chairman Federico Caruncho emphasized that the financing secured through the cooperation between Garanti BBVA and ICO is of great importance for the company’s sustainable production vision.
He stated that the investment in modernizing production lines will not only improve operational efficiency but also make a significant contribution to reducing environmental impact.
“As an international company investing in Türkiye, we are pleased to work with a reliable financial partner such as Garanti BBVA,” Caruncho said.
Source: Anadolu Ajansı/ Prepared by: İlayda Gök