Migros gets $71M loan from European bank to further promote women’s employment, save energy
Turkish retailer Migros will enhance gender-balanced workforce and greener stores through a €60 million ($71 million) loan from the European Bank for Reconstruction and Development (EBRD).
The loan will support the retailer to develop and implement an equal opportunities action plan, which will set out gender-responsible recruitment strategies and open up more job opportunities for women, according to a statement from the bank on Monday.
Migros will hire over 2,000 women to fill new positions created as a result of burgeoning demand for grocery shopping amid the coronavirus pandemic.
The company will open new stores and refurbish others, to embed renewable energy systems and energy-saving technologies, thanks to the loan.
Migros operates in 81 Turkish provinces, through a network of 2,286 food retail stores under the Migros, Migros Jet, 5M and Macrocenter banners.
As a leading institutional investor in Turkey, EBRD has invested almost €13 billion ($15.4 billion) in the country through 334 projects so far.