KIEV, UKRAINE — The European Bank for Reconstruction and Development (EBRD) is investing €4.4 million in Ulusoy Un, a Turkish flour producer.
EBRD and Turkiye Sinai Kalkinma Bankasi (TSKB), the Industrial Development Bank of Turkey, are jointly providing loan to fund the company’s growing need for working capital.
Established in 1989, the company produces and sells flour used for the production of bread, biscuits, chapattis and noodles. With a daily wheat-processing capacity of 2,100 tonnes, it exports to 86 countries on five continents.
Flour remains in high demand from pasta makers, bakeries and households in lockdown.