One of the largest retailers in Türkiye, A101, has secured a $200 million loan from the European Bank for Reconstruction and Development (EBRD), the lender announced on Wednesday.
According to the statement from EBRD, the two-tranche loan, split into $100 million each, will enable A101 to implement a medium-term capex program including new store and warehouse openings across the country, refurbishment of existing stores and installation of solar panels for internal consumption up to 30 megawatts (MW).
The bank also said it could provide a large amount of long-term financing, up to seven years to support the company's long-term growth plans.
It also cited the provided financing to be gender smart as it would help the company achieve higher gender standards in delivering training and job opportunities to female employees. By extending the maturity of the company's loan book, the proposed financing will allow it to preserve its internal cash to use for other potential investments, it added.
The Solar Power Project (SPP) site will be the subject of a Turkish Environmental Impact Assessment (EIA), the EBRD said.
Founded in 2008, A101 is one of the largest retail chains in the country with over 13,400 stores and 60 warehouses across all cities in the country.
Long one of the biggest foreign investors in Türkiye, the European Bank for Reconstruction and Development recently said its total investments in the country have exceeded 20 billion euros ($21.8 billion) so far.
