Turkish pulse and ready-made food producer Yayla is getting 25 million euros ($27 million) in working capital from the European Bank for Reconstruction and Development (EBRD) to finance the company's day-to-day operations.
Yayla, which markets beans, vegetables, rice and other raw and ready-made foods, will use the loan to boost production amid a pandemic-related spike in global demand for pulses, said a bank statement on Friday.
"As consumers across the globe are stocking up on food essentials, we have seen dry beans and other pulses as well as Yayla's ready-made meals flying off store shelves here in Turkey," said Arvid Tuerkner, the EBRD's managing director for Turkey.
Tuerkner added that the company will meet the rising demand not only at home but also abroad.
With an overall capacity of 1 million tons per year, Yayla offers its products in more than 100 countries worldwide.
"Our easily accessible, healthy and cost-effective products meet the demands of a changing lifestyle and consumption habits," said Hasan Gumus, the chairman of Yayla.
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