ASTANA, Kazakhstan, April 23. The International Financial Corporation (IFC) has committed 75 million euros in innovative investment to Ülker Bisküvi, a leading Türkiye-based food company and snack producer, to support operations in Türkiye and Kazakhstan, Trend reports.
IFC's funding will enable Ülker Bisküvi, a subsidiary of Pladis Foods Limited, to implement structural improvements at its factories in Istanbul and Kocaeli, both major earthquake-prone areas in Türkiye, to boost earthquake resilience and energy efficiency.
The funds will also support an Ülker subsidiary in Kazakhstan, the Hamle factory, in improving its resource efficiency and safety standards.
In addition, the IFC's financing incentivizes Ülker Bisküvi to achieve ambitious climate adaptation and mitigation targets. These include encouraging the company to reduce its greenhouse gas emissions, decrease water use, and enhance its waste recycling ratio.
IFC will also support the company in improving its environmental and social policies and procedures.
Meanwhile, in Central Asia, IFC has been ramping up its work to expand financial services and market access for women-led firms. Since 2018, IFC has invested $155 million in 15 local financial institutions across the region.
In fiscal 2023, IFC made a record investment in emerging markets, which are expected to improve access to finance for MSMEs through the provision of 2.2 million loans.
