• EBRD loan to Esan Eczacibasi to finance green investments
• Loan to support resource and energy efficiency
• Mining sector crucial for decarbonisation measures

The European Bank for Reconstruction and Development (EBRD) is providing a US$ 50 million (€46 million) loan to Esan Eczacibasi Endustriyel Hammaddeler Sanayi ve Ticaret AS in Türkiye to finance the company’s resource and energy efficiency investments at the Balya polymetallic mine, located in Balikesir.

The funds will support the decarbonisation and electrification of Balya’s mining operations, improvements in operational efficiency and green energy projects. The Balya mine produces zinc, copper and lead – all metals critical to the energy transition. 

Mining plays a key role in decarbonisation, as copper and zinc remain crucial for many green applications such as battery-powered vehicles, electronics, and power generation (particularly from renewable energy sources), transmission and storage.

In addition, the EBRD will support Esan in improving young people’s access to market-relevant skills and employment opportunities by developing and implementing a new accredited dual-learning programme in partnership with local technical and vocational institutes. As mining is traditionally a male-dominated sector, Esan – with the EBRD’s support – will also promote gender equality in training and employment.  

Thanks to the Bank’s involvement and continuous environmental appraisal, Esan has committed to applying the EBRD’s environmental and social requirements to the project, which are in line with best international practices and standards, throughout the lifetime of the EBRD loan.

Speaking on the project, Natalia Lacorzana, Director, Natural Resources for the EBRD, said: “I am delighted to be signing today this very important transaction with Esan, a company that aspires to promote the decarbonisation of the mining sector and the production of metals relevant to the green energy transition. As part of our investment, Esan will also undertake a series of initiatives to promote an inclusive and gender-responsive working environment, thereby contributing to equal opportunities in mining operations. I am very proud of our partnership with Esan, and I am confident that it will be exemplary for the rest of the sector.”

A key producer of industrial minerals and metals in the country, Esan is a subsidiary of Eczacibasi Holding, one of the country’s leading industrial groups.

Atalay Gümrah, CEO of Eczacibasi Holding, stated: “As a pioneer of transformation in the mining industry, we are delighted to work with the EBRD on an investment that uses new technologies to promote efficiency and sustainability in our industry. Through this project, we not only aim to decarbonise and electrify our operations but also foster economic empowerment by implementing long-term community development programmes. We also aim to provide market-relevant skills and employment opportunities, particularly for young people and women, thus fostering a more inclusive mining sector.”

The EBRD is one of Türkiye’s key investors, with nearly €19.5 billion invested across 440 projects and through trade finance limits since 2009, of which 93 per cent has been channelled to the private sector.