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FinancialNews


  • 12-11-20

    Turkish pioneer chocolate maker to receive USD 13m loan

    (MENAFN) On Wednesday, the European Bank for Reconstruction and Development (EBRD) and Turkey's Industrial Development Bank (TSKB) mutually broadened a EUR 11 million (almost USD 13 million) loan to the Turkish chocolate manufacturer Altinmarka to fund its rapid growth.

    According to a statement from the EBRD, the loan will afford to fund the growing cash flow needs of the organisation, including the purchase of cocoa and coffee beans, milk powder, sugar and other ingredients.

    The loan signifies the beginning of the relationship with Altinmarka, said Arvid Tuerkner, the bank's managing director for Turkey.

    He further included, "In a competitive environment and under challenging circumstances Altinmarka is demonstrating great resilience. We are proud to join forces with TSKB to lead Altinmarka to further growth and success."

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