The European Bank for Reconstruction and Development (EBRD) granted a $50 million (€46 million) loan to a Turkish mining company for its resource and energy efficiency investments, the bank announced on Tuesday.
Türkiye's leading Eczacibasi Holding’s subsidiary, Esan Eczacibasi Endustriyel Hammaddeler Sanayi ve Ticaret AS (Esan Eczacibasi Industrial Raw Materials Industry and Trade), will receive the loan for its Balya mine that produces zinc, copper, and lead in the western province of Balikesir, the bank said in a statement.
“The funds will support the decarbonization and electrification of Balya’s mining operations, improvements in operational efficiency, and green energy projects,” the statement read.
Commenting on the project, Natalia Lacorzana, the director of Natural Resources for the EBRD, said: “I am delighted to be signing today this very important transaction with Esan, a company that aspires to promote the decarbonization of the mining sector and the production of metals relevant to the green energy transition.”
“As part of our investment, Esan will also undertake a series of initiatives to promote an inclusive and gender-responsive working environment, thereby contributing to equal opportunities in mining operations,” Lacorzana added.
For his part, Atalay Gumrah, the CEO of Eczacibasi Holding, said: “As a pioneer of transformation in the mining industry, we are delighted to work with the EBRD on an investment that uses new technologies to promote efficiency and sustainability in our industry.”
“Through this project, we not only aim to decarbonize and electrify our operations but also foster economic empowerment by implementing long-term community development programs,” Gumrah added.
The EBRD has committed nearly €19.5 billion to 440 projects and trade finance since 2009, with 93% directed towards the private sector.
By Handan Kazanci
Anadolu Agency
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