Turkish home appliance giant Arçelik has announced a new €150 million ($173.9 million) financing agreement with the European Bank for Reconstruction and Development (EBRD), aimed at advancing its environmentally sustainable manufacturing initiatives.

The funding will be split into two strategic components:

– €83 million will be allocated to Turkey’s first externally verified green loan in the manufacturing sector. This portion will support Arçelik’s comprehensive green investment program, including the transformation of production processes, modernization of facilities, and R&D efforts focused on developing eco-friendly appliances.

– €67 million will be used to upgrade key manufacturing sites—specifically, the refrigerator plant in Eskişehir and the cooking appliances facility in Bolu—enhancing energy efficiency and operational sustainability.

This latest investment builds on a previous €150 million EBRD loan that enabled Arçelik to produce quieter, more energy-efficient refrigerators and washing machines, which have seen strong demand in international markets.

According to the company, these new initiatives are designed to help meet its 2030 climate goals and align with the broader objectives of the Paris Agreement