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.
Turkish Aerospace Industries (TUSAŞ) has signed an historic agreement to sell 48 units of the 5th generation indigenous fighter jet KAAN to Indonesia. The aircraft will be delivered during a 10-year period.
Türkiye will export 48 KAAN fighter jets to Indonesia under a major defense agreement announced by President Recep Tayyip Erdogan on Wednesday, marking the country’s biggest international arms deal to date.
Azerbaijan has unveiled plans to export renewable electricity to Türkiye through the Nakhchivan Autonomous Republic, with a projected capacity of up to 1 gigawatt.
Officials from Turkmenistan and the Republic of Türkiye held comprehensive consultations at the Ministry of Foreign Affairs of Turkmenistan today, reaffirming their commitment to deepening bilateral ties across political, diplomatic, economic, and cultural spheres.
Turkish President Recep Tayyip Erdogan and Armenian Prime Minister Nikol Pashinyan held a phone conversation today. During the call, PM Pashinyan extended his congratulations to President Erdogan on the occasion of Kurban Bayrami.
The European Commission confirmed on Thursday it will postpone the implementation of new international banking regulations by a year, citing concerns over global alignment and competitiveness.
Kazakh Tourism National Company has introduced a draft concept to transform the historic Baikonur cosmodrome into a future-focused destination for scientific and industrial tourism. The plan aims to attract visitors year-round, beyond just the times of rocket launches.
China is set to eliminate tariffs for all 53 African countries it has diplomatic ties with, offering duty-free access not just to the poorest nations but also to middle-income economies.
The European Union and Britain reached a landmark agreement Wednesday to ease border crossings in Gibraltar, ending years of uncertainty over the territory’s post-Brexit status.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 8th, covering the latest developments you need to know.
Presidential candidate Miguel Uribe Turbay is in critical condition after being shot three times — including twice in the head — during a campaign event in Bogotá.
Kazakhstan and the UK are strengthening defense ties with a new Military Cooperation Plan, focusing on peacekeeping and military education.
A 30-year-old woman was shot by police in Munich on Saturday evening after stabbing two people at Theresienwiese, a central park best known for hosting Oktoberfest.
Mexican President Claudia Sheinbaum has condemned U.S. immigration raids and National Guard deployment in Los Angeles, calling for reforms instead of enforcement.
UK Chancellor of the Exchequer, the Rt Hon Rachel Reeves, has announced a record £2.5 billion in additional funding this week to advance the development of the world’s first fusion power plant.
A historic May heat wave pushed Greenland’s ice melt to 17 times its average rate and sent Iceland’s temperatures soaring to record-breaking highs, raising urgent alarms about Arctic climate vulnerability.
Climate change could slash over 5% from Italy’s GDP by 2050 if no action is taken, according to the national budget watchdog, highlighting the urgent need for global emissions cuts.
At least seven people have died and several schoolchildren are missing after heavy rain and snow triggered flooding in South Africa’s Eastern Cape and southern regions, officials said Tuesday.
A new study warns that the emperor penguin population in Antarctica is shrinking faster than expected, with numbers falling by 22% over 15 years due to climate change and unstable sea ice.
The European Commission confirmed on Thursday it will postpone the implementation of new international banking regulations by a year, citing concerns over global alignment and competitiveness.
Kazakh Tourism National Company has introduced a draft concept to transform the historic Baikonur cosmodrome into a future-focused destination for scientific and industrial tourism. The plan aims to attract visitors year-round, beyond just the times of rocket launches.
China is set to eliminate tariffs for all 53 African countries it has diplomatic ties with, offering duty-free access not just to the poorest nations but also to middle-income economies.
The European Union and Britain reached a landmark agreement Wednesday to ease border crossings in Gibraltar, ending years of uncertainty over the territory’s post-Brexit status.
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