EBRD Extends €75 Million Sustainability-Linked Loan To Ülker To Accelerate Green Transition And Support Net-Zero Goals By 2050

The European Bank for Reconstruction and Development (EBRD) has announced a €75 million sustainability-linked loan to Ülker, Türkiye’s leading confectionery producer, reinforcing the company’s commitment to its green transition goals. This financing forms part of a larger €377 million package, involving multiple participating banks, that will refinance Ülker’s existing sustainability-linked loan initiated in March 2023.

Sustainability remains a cornerstone of Ülker’s long-term growth strategy. The company aims to achieve net-zero emissions across its entire value chain by 2050 through zero-waste practices, a transition to net-zero carbon operations, and the adoption of circular business models supported by green financing. With the EBRD’s backing, Ülker plans to enhance its sustainability targets and expand the scope of its emission calculations to cover all production facilities worldwide, including those in Egypt, Kazakhstan, and Saudi Arabia.

Commenting on the transaction, Mehmet Erdem Yaşar, the EBRD’s Deputy Head of Türkiye, said: “We have long supported Ülker’s strong sustainability vision and are pleased to see the company’s continued and growing commitment. We are confident that this financing will further strengthen Ülker’s position as a leading example of sustainability in the sector.”

Ülker CEO Özgür Kölükfakı emphasized that sustainability lies at the heart of the company’s innovation and operational philosophy: “At Ülker, we see creating environmental, economic, and social value as an integral part of our growth journey. This partnership with the EBRD will not only help us set stronger sustainability targets but also enhance operational efficiency and reinforce our competitiveness. Across Türkiye and all markets where we operate, we remain committed to leading through innovation and responsible production.”

Founded in 1944, Ülker is one of Türkiye’s most recognized confectionery brands, offering a wide range of biscuits, cakes, and chocolates. The EBRD has been a longstanding partner in Ülker’s sustainability journey—in 2024, it invested in the company’s first sustainability-linked Eurobond, supporting its goals to cut Scope 1 and 2 greenhouse gas emissions by 42% and Scope 3 emissions by 25% by 2030.

As one of Türkiye’s key investors, the EBRD has committed over €22.7 billion across 502 projects and trade finance limits since 2009, primarily in the private sector. This new financing marks another milestone in the EBRD’s mission to foster sustainable, inclusive, and competitive private enterprise in Türkiye while supporting the broader green transition across the region.