Coca-Cola İçecek (CCI) has secured four loans totaling $250 million, from the International Finance Corporation (IFC) to support ESG efforts in its factory located in Turkey, and three subsidiaries in Uzbekistan, Tajikistan and Iraq.
IFC, a member of the World Bank Group, said the loan will help the Coca-Cola bottler in implementing sustainable manufacturing processes in these countries, reducing energy and water usage, and improving circular economy practices.
Erdi Kurşunoğlu, CCI’s Chief Financial Officer said, “This deal is an important milestone in achieving CCI’s long-term expansion plans in some of its fastest-growing markets.”
The investment is anticipated to support the creation of many direct and indirect jobs along the company’s supply chains in the four countries. Climate finance constitutes 60% of the financing, which would be directed towards increasing recycled PET bottling capacities, energy-efficient equipment, renewable energy projects, and water savings measures.
IFC will also support CCI in its ongoing commitment to reduce the gender gap in its workforce, management, and its Board.
Wiebke Schloemer, IFC Director for Türkiye and Central Asia said, “This financing will support CCI in implementing sustainable manufacturing processes, promoting gender equality, and boosting job creation. “