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.
The Turkish-built Oruc Reis seismic vessel has successfully concluded its first intercontinental mission in Somali waters, conducting a 3D seismic survey over 4,464 square kilometres.
Türkiye and Azerbaijan are deepening defense ties with two major joint military drills in Nakhchivan this June, aiming to strengthen strategic cooperation and regional readiness.
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.
Japanese Prime Minister Shigeru Ishiba strongly condemned Israel’s military attacks on Iran on Friday, calling the strikes “totally intolerable” and warning against further escalation in the region.
Israel’s June 13 strikes on Iran led to the deaths of several high-ranking military officials and prominent nuclear scientists, marking a major escalation in the ongoing hostilities between the two countries.
Senator Bernie Sanders announced plans to introduce legislation prohibiting the use of federal funds for any US military action against Iran without explicit congressional authorization, warning against being drawn into what he called Israeli Prime Minister Netanyahu’s “illegal war.”
Minnesota Governor Tim Walz confirmed that former state House Speaker Melissa Hortman and her husband were fatally shot in what authorities are calling a politically motivated assassination. A second lawmaker, state Senator John Hoffman, and his wife were wounded in the attack.
Ukrainian President Volodymyr Zelenskyy on Saturday said diplomacy alone will not stop Russian President Vladimir Putin, urging stronger financial pressure and suggesting former US President Donald Trump may be the only leader capable of halting Moscow’s aggression.
Pakistan will begin its first freight train service to Russia from Lahore on June 22. The route is part of the INSTC and aims to connect Pakistan's rail network with Central Asia, establishing a new trade corridor via Iran, Turkmenistan, and Kazakhstan.
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.
Israeli strikes have reportedly targeted areas near the residences of Iran’s Supreme Leader Ayatollah Ali Khamenei and President Masoud Pezeshkian, according to the New York Times, citing local witnesses.
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.
Japanese Prime Minister Shigeru Ishiba strongly condemned Israel’s military attacks on Iran on Friday, calling the strikes “totally intolerable” and warning against further escalation in the region.
Israel’s June 13 strikes on Iran led to the deaths of several high-ranking military officials and prominent nuclear scientists, marking a major escalation in the ongoing hostilities between the two countries.
Senator Bernie Sanders announced plans to introduce legislation prohibiting the use of federal funds for any US military action against Iran without explicit congressional authorization, warning against being drawn into what he called Israeli Prime Minister Netanyahu’s “illegal war.”
Minnesota Governor Tim Walz confirmed that former state House Speaker Melissa Hortman and her husband were fatally shot in what authorities are calling a politically motivated assassination. A second lawmaker, state Senator John Hoffman, and his wife were wounded in the attack.
Ukrainian President Volodymyr Zelenskyy on Saturday said diplomacy alone will not stop Russian President Vladimir Putin, urging stronger financial pressure and suggesting former US President Donald Trump may be the only leader capable of halting Moscow’s aggression.
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