EBRD Supports Polinas’ Green and Inclusive Growth with €25 Million Loan for Sustainable Packaging Production

EBRD Supports Polinas’ Green and Inclusive Growth with €25 Million Loan for Sustainable Packaging Production

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) is providing a €25 million loan to Türkiye’s Polinas Plastik to enhance the company’s green credentials through resource and energy efficiency upgrades, including a new production line for recyclable packaging and solar panel installations. The loan will also support Polinas in boosting diversity by increasing the employment of women in its workforce. Polinas, a major player in Türkiye’s flexible packaging sector, aims to reduce its carbon footprint and expand its sustainable product offerings.

(PRESS RELEASE) LONDON, 14-Aug-2024— /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD) has extended a €25 million loan to Polinas Plastik, one of Türkiye’s leading flexible packaging producers, to support the company’s efforts to enhance its green credentials. The funding will be directed towards capital expenditures aimed at improving resource and energy efficiency in Polinas’ production processes, as well as investing in solar energy installations.

This loan will enable Polinas to establish a new production line for biaxially oriented polypropylene (BOPP) film, acquire new machinery, and invest in solar panels to increase the use of renewable energy at its facilities. By integrating these technologies, Polinas aims to significantly reduce its carbon emissions while expanding its production of fully recyclable packaging materials that can incorporate recycled and bio-based content.

As global demand for environmentally friendly packaging continues to grow, driven by the increasing focus on reducing carbon footprints, Polinas is positioning itself as a key player in the sector. The company, one of Türkiye’s oldest and most prominent flexible food packaging producers, exports its products to over 50 countries. The BOPP, BOPET (biaxially oriented polyethylene terephthalate), and other films produced by Polinas are essential for maintaining food safety throughout the supply chain.

In addition to its environmental goals, the EBRD loan will also support Polinas in enhancing diversity and inclusion within its workforce. Currently, women make up only about 27% of the manufacturing sector workforce in Türkiye. Polinas plans to increase the number of women employed at its facilities and improve its diversity practices, aligning with broader social responsibility objectives.

Polinas is 99% owned by Gözde Girişim, the private equity division of Yıldız Holding, one of Türkiye’s largest conglomerates.

The EBRD has been a significant investor in Türkiye, with more than €20 billion invested across 450 projects since 2009, primarily in the private sector.

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SOURCE: EBRD