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EBRD provides green investment financing to Ehsan Ekzatibashi -
Financing Resource and Energy Efficiency -
Mining sector essential for decarbonization measures
The European Bank for Reconstruction and Development (EBRD) has provided Turkey’s Esan Eczacibasi Endustriyel Hammaddeler Sanayi ve Ticaret AS with a USD 50 million (EUR 46 million) loan to fund the company’s resource and energy efficiency investments at the Balya polymetallic mine in Balkesir. I will provide a.
The funding will support the decarbonization and electrification of Balya’s mining operations, operational efficiency improvements and green energy projects. The Balya mine produces zinc, copper and lead, all of which are important metals for the energy transition.
Mining will play a key role in decarbonization, as copper and zinc remain crucial for many environmentally friendly applications, including battery-powered vehicles, electronics, power generation (particularly renewable energy sources), transmission, and storage. I am fulfilling my role.
In addition, the EBRD will support Ehsan to improve young people’s access to market-relevant skills and employment opportunities by developing and implementing a new accredited dual learning programme in partnership with a local technical and vocational institute. As mining is a traditionally male-dominated sector, with the EBRD’s support, Ehsan will also promote gender equality in training and employment.
Thanks to the Bank’s engagement and ongoing environmental assessments, Esan has been committed to applying EBRD environmental and social requirements to the project, in line with international best practices and standards, throughout the life of the EBRD loan.
Commenting on the project, EBRD Director of Natural Resources Natalia Lacorzana said: “Today we are pleased to sign this very important transaction with Esan, a company aiming to accelerate the decarbonization of the mining sector and metal production” in relation to the transition to green energy. As part of the investment, Esan will also undertake a series of initiatives to promote an inclusive and gender-sensitive working environment, thereby contributing to equal opportunity in its mining operations. I am extremely proud of our partnership with Esan and am confident that this partnership will set an example for other industries. ”
Ehsan, a major producer of industrial minerals and metals in the country, is a subsidiary of Eczacibasi Holding, one of the country’s leading industrial groups.
Atalei Gyumla, CEO of Echatibashi Holding, said: “As a pioneer in mining reform, we are pleased to work with the EBRD on investments that leverage new technologies to drive efficiency and sustainability in the industry. Through this project, we will In addition to aiming for carbonization and electrification, we also promote economic independence by implementing long-term community development programs. We also provide market-relevant skills and employment opportunities, especially for young people and women, and are more inclusive. We also aim to develop the mining sector.”
The EBRD is one of Turkiye’s main investors, having invested around EUR 19.5 billion in 440 projects through trade finance restrictions since 2009, of which 93 percent has gone to the private sector.
