Beko, the leading global home appliance company, has signed a €100 million sustainability-linked loan with IFC, a member of the World Bank Group. Marking Beko’s first sustainability-linked loan, the agreement reinforces the company’s commitment to integrating sustainability across its value chain and driving innovation in energy-efficient technologies.
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IFC is the world’s largest development institution focused on the private sector in emerging markets. The newly secured financing will facilitate the ongoing operation of Beko’s two solar power plants dedicated to renewable energy use and strengthen six production facilities which will improve resilience against potential earthquake damage. The loan will also accelerate Beko’s global research and development (R&D) into digitalization and the creation of smart, resource-efficient, and health-focused appliances, supporting sustainable living worldwide.
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This five-year financing, structured in accordance with the company’s Sustainability-Linked Financing Framework, includes the company’s 2030 targets to reduce greenhouse gas emissions and strengthen gender diversity within the workforce; reflecting IFC’s focus on inclusive and climate-resilient growth.
“The sustainability-linked loan with IFC marks yet another important milestone in our journey toward building a net-zero future,” said Barış Alparslan, Chief Financial Officer of Beko. “By investing in renewable energy, earthquake resilience, and R&D for smarter, more efficient products, we’re strengthening our ability to meet global sustainability expectations while continuing to deliver value to our customers and communities worldwide. Beko is proud to deepen its collaboration with IFC as we scale innovation that respects the world and is respected worldwide.”
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“Our investment in Beko underscores the importance of building resilient infrastructure and advancing R&D to ensure the long-term competitiveness and sustainability of the region’s manufacturing sector,” said Ashruf Megahed, IFC Regional Industry Head for Manufacturing, Agribusiness and Services in the Middle East and Central Asia. “By working with leading companies like Beko, we want to drive economic resilience and create jobs, generating positive effects for the wider economy.”
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Source : prnewswire