World Bulletin / News Desk
The European Bank for Reconstruction and Development (EBRD) is providing a $48 million loan for leading Turkish agricultural firm Tiryaki Agro to support its expansion into new markets and investments, the bank announced on Thursday.
"The funds will provide long-term financing for the company’s day-to-day operations such as processing, storing and trading pulses, grains, feed, oilseeds, corn and nuts," said an ERBD press release.
With the financing, the firm aims to enter new markets and make value-added organic production, the bank said.
Tiryaki Agro, established in 1980, is an agricultural commodity supply chain manager. The EBRD, with $10 billion in investments since 2009, is a major investor in the country.
