March 15, 2019 / 8:34 AM / a month ago

EBRD lends nearly 1 bln lira to Turkey's Arcelik

ISTANBUL, March 15 (Reuters) - The European Bank for Reconstruction and Development said on Friday it was lending close to 1 billion lira ($183 million) to Turkish home appliances company Arcelik.

Arcelik will invest in new manufacturing lines at two of its plants to produce refrigerators and washing machines, the EBRD said in a statement, adding that it also plans to bring research and development activities under one roof in a new R&D center.

Arcelik is the home appliances arm of Turkey’s biggest industrial conglomerate, Koc Holding. ($1 = 5.4586 liras) (Reporting by Can Sezer Writing by Ali Kucukgocmen Editing by Daren Butler)

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