The European Bank for Reconstruction and Development (EBRD) is providing €50 million to Anadolu Etap, a Turkish fruit farming, distribution, and juice company.

Essentially a joint venture between Anadolu Group, Özgörkey Holding, and Curtale Group, Anadolu Etap is active in fruit farming and the production of fruit concentrates and purees and the distribution of fresh fruit.

The loan will fund the acquisition of new fruit farms and will fund the purchase of high-tech machinery and fruit processing equipment. The loan will also fund the group’s expansion of its existing facilities in support of the launch of Doal, the country’s first new fruit brand and the development of the domestic market.

As a part of the transaction, training will be provided to farmers under a technical assistance program geared to strengthen the company’s sourcing of high-quality raw materials, with particular focus on training and raising the skill levels of female farmers.

“With this investment we are supporting Turkey’s farming industry, helping to improve competitiveness in the private sector, promoting good corporate governance standards and working towards greater gender equality in the Turkish economy,” said the EBRD Director for Turkey, Jean-Patrick Marquet in a bank statement.
Turkey’s fruit and vegetable sector appears to be undergoing a wave of development and growth. Only last month Aksun, one of the country’s major produce companies announced its largest investment in more than 30 years to open the country’s largest fruit and vegetable packhouse in the autumn of this year.

Globally, Turkey is one of the world’s top five exporters of oranges and a key supplier of mandarins, and is a major supplier of fruits and vegetables to the European market. However, the sector took a hit in January of this year when Russia banned fruit and vegetable imports from the country. In the ensuing months, Eastern European markets have gained a greater share of Turkey’s exports, with Ukraine buying over 120,000 tons of citrus fruit, 6,600 tons of cucumbers, and 12,300 tons of tomatoes from Turkey in 2015.

The EBRD began operating in Turkey in 2009. Its investments in the country currently exceed €7 billion across more than 180 projects in agriculture, infrastructure, processing, energy, and finance. Through its offices in Ankara, Istanbul, and Gaziantep, it has also facilitated approximately €17 billion for these projects from outside funding sources.

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Lynda Kiernan