Home appliance firm Beko has secured a €100 million sustainability-linked loan from the International Finance Corporation (IFC), which will support the company’s commitment to ‘integrating sustainability across its value chain and driving innovation in energy-efficient technologies’, it said in a statement.
The loan from IFC, which is a member of the World Bank Group, will run over a five-year period, and will support the operation of Beko‘s two solar power plants, as well as reinforcing six manufacturing sites to improve resilience against potential earthquake damage.
Elsewhere, the Istanbul-based firm will also use the loan to invest in research and development, particularly in digitalisation and the development of smart appliances that are more resource efficient.
‘Important milestone’
“The sustainability-linked loan with IFC marks yet another important milestone in our journey toward building a net-zero future,” commented Barış Alparslan, chief financial officer, Beko.
“By investing in renewable energy, earthquake resilience, and R&D for smarter, more efficient products, we’re strengthening our ability to meet global sustainability expectations while continuing to deliver value to our customers and communities worldwide. Beko is proud to deepen its collaboration with IFC as we scale innovation that respects the world and is respected worldwide.”
The loan is structured in accordance with Beko’s Sustainability-Linked Financing Framework, which includes 2030 targets to reduce greenhouse gas emissions and strengthen gender diversity within its workforce.
‘Economic resilience’
Ashruf Megahed, regional industry head for manufacturing, agribusiness and services for IFC in the Middle East and Central Asia, added that its investment in Beko “underscores the importance of building resilient infrastructure and advancing R&D to ensure the long-term competitiveness and sustainability of the region’s manufacturing sector.
“By working with leading companies like Beko, we want to drive economic resilience and create jobs, generating positive effects for the wider economy.”
Beko, which has operations in more than 55 countries and boasts a workforce of over 50,000 employees, generated a consolidated turnover of €10.6 billion in 2024. Read more here.
