EBRD provides 70 million euro loan to Türk Traktör

Türk Traktör and Ziraat Makineleri AŞ announced that it has reached an agreement with the European Bank for Reconstruction and Development (EBRD) to use a loan of up to 70 million euros for certain investments. In the statement made by Türk Traktör to the Public Disclosure Platform (KAP), it was stated that within the framework of the company's long-term growth plans; in addition to the financing of the modernization of the relevant system and the related R&D projects to be carried out for the purpose of Stage V compatible engine production in our existing production facilities in Ankara and Sakarya, an agreement has been reached with the EBRD to use a loan of up to 70 million euros for the installation of 4.3 MW solar energy panels on the roof of our factory in Sakarya. It was stated in the statement that the loan agreement was signed on July 25, 2023, and that the loan will be used in two equal tranches and has a total maturity of 5 years. The statement said, "The annual interest rate, excluding bank charges, is 4.85 percent + 6-month Euribor. The first year of the loan will be principal-free and interest will be paid every 6 months. As of the second year, principal and interest payments will be made every 6 months."