BAKU, Azerbaijan, Feb.5. The European Bank for Reconstruction and Development (EBRD) is lending €20 million to Assan Alüminyum, a subsidiary of Kibar Holding, to fund decarbonization investments aimed at increasing scrap use, improving efficiency, and reducing energy and gas consumption, Trend reports via the Bank.
The financing will support the installation of a foundry line filtration system, enabling aluminium production materials to be cleaned and reused; a foil rolling oil filtration system, expected to cut evaporative losses by up to a third; and upgrades to a cold-rolled aluminium line to boost operational efficiency.
Aluminium is among the sectors included in the EBRD-backed Low Carbon Pathways initiative, which develops roadmaps for policy change and private sector investment in hard-to-abate industries. This initiative has helped establish the Türkiye Industrial Decarbonization Investment Platform (TIDIP), the world’s largest industrial decarbonization program, led by the Bank.
The EBRD said the financing is fully aligned with TIDIP objectives and will help Assan Alüminyum expand its sustainability footprint. In addition, the company will introduce a structured caregiving support framework to enhance employee well-being, particularly for women who disproportionately shoulder care responsibilities in Türkiye. The framework, powered by the EBRD Care Compass online learning platform, aims to improve workforce participation, retention, and equal opportunities.
The EBRD is one of Türkiye’s largest institutional investors, with over €23 billion committed to more than 500 projects since 2009, primarily in the private sector.