EBRD Partners with Bunge Gıda to Empower Women Farmers in Turkey’s Olive Sector

EBRD Partners with Bunge Gıda to Empower Women Farmers in Turkey’s Olive Sector

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) is extending an additional loan of US$25 million in Turkish lira to Bunge Gıda to support their working capital needs while expanding training opportunities for women olive farmers in Turkey. Building on a previous investment that initiated the Olive Academy in Ayvalık, this new loan aims to enhance inclusivity and sustainability in the olive sector by providing training in climate-resilient and resource-efficient farming practices. With a focus on narrowing the gender gap in agriculture, the project targets at least 480 women farmers to equip them with essential skills for sustainable olive farming. As a significant investor in Turkey, the EBRD continues to prioritize initiatives that foster economic growth and empower marginalized communities, with over €19.6 billion invested in the country since 2009, predominantly supporting the private sector.

(PRESS RELEASE) LONDON, 29-Apr-2024 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD) is providing an additional loan in Turkish lira equivalent to US$25 million, to Bunge Gıda (Bunge), an integrated edible oils producer in Türkiye, to finance the company’s working-capital needs while expanding training for women olive farmers in the country.

Bunge will enhance training material, while making the training accessible to more women.

In Türkiye, the company processes oilseeds, cereals, protein products and crushes, and refines and bottles oilseeds to produce olive oil, sunflower oil and cooking oils. It also owns leading Turkish consumer brands such as Komili, Kırlangıç and Sezai Ömer Madra.

The additional loan builds on a previous US$ 50 million long-term loan to Bunge to finance the company’s capital-expenditure and working-capital needs. That loan had launched the Olive Academy in Ayvalık, providing women farmers in the Aegean region with the necessary farming skills to increase efficiency and the climate resilience of their harvest and encourage sustainable agricultural practices.

Despite its vast potential in olive farming, Türkiye’s olive oil production is constrained by inefficient farming techniques and a lack of interest from younger generations in pursuing olive farming.

The pioneering Olive Academy seeks to narrow this gap and encourage the country’s potential olive farmers, especially women, to acquire the skills they need to pursue sustainable, climate-friendly olive farming.

Over the course of this new EBRD investment, at least 480 women farmers will receive training in climate-resilient and resource-efficient olive production in collaboration with local partners. More than 110 women have already been trained under the project.

The EBRD is one of Türkiye’s key investors, with €19.6 billion invested across 441 projects and through trade finance limits since 2009, of which 93 per cent has been channelled to the private sector.

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SOURCE: EBRD