The European Bank for Reconstruction and Development (EBRD) is investing $50 million in a Eurobond issued by "Çimko Cimento ve Beton Sanayi", a joint stock company incorporated in Türkiye.
Çimko will use the proceeds from its $300 million Eurobond issuance to finance its decarbonisation investment programme and support refinancing efforts. The issuance is expected to strengthen Çimko’s balance sheet and serve as a strong signal to other Turkish companies aiming to diversify their funding sources through capital markets.
Çimko manufactures and sells cement, clinker, aggregate, and ready-mixed concrete, operating production facilities in Kahramanmaraş, Adıyaman, and Bartın. The company is a subsidiary of Sanko Holding, a prominent Turkish industrial conglomerate with key operations in textiles, energy, cement, and packaging. Sanko Holding is also one of the largest employers in Türkiye’s earthquake-affected southeastern region, with a workforce exceeding 15,000.
The transaction is a key example of the EBRD’s continued commitment to a prior low-carbon pathways initiative, which seeks to decarbonise the country’s steel, aluminium, cement and fertiliser sectors.
Erdem Mehmet Yasar, EBRD Deputy Head of Türkiye, said: “This transaction stands out not only for its advancement of the cement sector’s transition to greener practices, but also for the company’s exemplary approach to securing sustainable funding through capital markets. It is a model of how industrial players can align environmental ambition with smart financial strategy.”
"Beyond reinforcing our financial structure, the proceeds of this transaction will enable further diversification of our funding sources. With these funds, we aim to accelerate our investments in renewable energy, energy efficiency and decarbonisation and make meaningful progress towards our sustainability goals. We believe this newly established relationship with the EBRD represents the foundation of a long-term strategic partnership, paving the way for many impactful, sustainability-focused projects in the years to come," - said Çimko Chief Executive Officer Önder Kılıç.
Egyptian archaeologists have uncovered a major prehistoric site in South Sinai dating back around 10,000 years, revealing layers of human activity car...
Türkiye and Serbia agreed to expand cooperation across defence, foreign policy and economic relations following talks between President Recep Tayyip ...
U.S. President Donald Trump said Israeli President Isaac Herzog is “disgraceful” for not granting a pardon to Prime Minister Benjamin Netanyahu, a...
Ukraine’s allies have pledged nearly $48bn in military support at a meeting of the Ukraine Defence Contact Group in Brussels, vowing to intensify pr...
The Trump administration on Thursday finalised rules revoking the Environmental Protection Agency’s authority to regulate greenhouse gas emissions, ...
The European Bank for Reconstruction and Development (EBRD) has provided a €500 million loan (almost $590 million) to the national gas company Naftogaz (NAK) for emergency gas purchases for Ukraine.
The European Bank for Reconstruction and Development (EBRD) has announced a lending the equivalent of $7 million to Saloğlu, Azerbaijan’s leading furniture producer and retailer, in local currency to help boost its competitiveness.
EBRD stated that Ukraine urgently needs new generation capacity after Russian attacks severely damaged its power sector, creating a significant shortfall in electricity generation. In response, the bank announced the launch of the Ukraine Renewable Energy Risk Mitigation Mechanism.
Kazakhstan and The European Bank for Reconstruction and Development (EBRD) will continue to work together to support transport infrastructure, green energy, small and medium-sized businesses, agriculture, and information technology in the country.
James Van Der Beek, who rose to fame as Dawson Leery in the hit teen drama Dawson’s Creek, has died aged 48 following a battle with stage 3 colorectal cancer.
U.S. President Donald Trump and Prime Minister of Israel Trump hosted Netanyahu for closed-door talks focused on negotiations with Tehran, Gaza and wider rBenjamin Netanyahu ended a two-and-a-half-hour meeting at The White House on Wednesday without reaching agreement on how to move forward on Iran.
The suspect in a deadly school shooting in western Canada was an 18-year-old woman who allegedly killed her mother and stepbrother before attacking her former school. Investigators have not provided a motive for what is being described as one of the worst mass killings in Canada.
Norway’s Sturla Holm Laegreid, who won bronze in the men’s biathlon at the Milano Cortina 2026 Winter Olympics on Tuesday (10 February) in Italy, stunned viewers by publicly admitting he had cheated on his girlfriend and pleaded for another chance during post-race interviews.
Türkiye and Greece signalled renewed political will to ease long-standing tensions during high-level talks in Ankara on Wednesday (11 February). Maritime borders, migration and trade topped the agenda as both leaders struck a cautiously optimistic tone.
The Trump administration on Thursday finalised rules revoking the Environmental Protection Agency’s authority to regulate greenhouse gas emissions, a move that significantly reshapes long-standing U.S. climate policy.
Tropical Cyclone Gezani has killed at least 31 people and left four others missing after tearing through eastern Madagascar, the government said on Wednesday, with the island nation’s second-largest city bearing the brunt of the destruction.
Rivers and reservoirs across Spain and Portugal were on the verge of overflowing on Wednesday as a new weather front pounded the Iberian peninsula, compounding damage from last week's Storm Kristin.
Morocco has evacuated more than 100,000 people from four provinces after heavy rainfall triggered flash floods across several northern regions, the Interior Ministry said on Wednesday.
Greenland registered its warmest January on record, sharpening concerns over how fast-rising Arctic temperatures are reshaping core parts of the island’s economy.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment