Ulusoy Un Sanayi ve Ticaret AS
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Ulusoy Un Sanayi ve Ticaret AS (“Ulusoy”), a major flour milling company and supplier of staple food (flour and wheat) in Turkey.
What is our funding objective?
It is to contribute to funding a consulting project that will support and advise Ulusoy in the designing of its group’s wider sustainability strategy and integrated reporting
Why do we fund this investment?
Ulusoy is a current client that has signed another facility. Monitoring and ESDD visits were carried out, and demonstrated commitment to go beyond basic ES requirements. This has been reflected on its commitment to a new ESAP that includes action items that are additional when compared to FMOs requirements. One of them (seen in the consultant’s proposal) is the development of a sustainability strategy composed of targets and KPIs, an action plan to meet targets, structuring E&S data and information gathering internally, and report on progress. The client requested for support. This exercise will also support the client in reporting its performance against IFC PSs and therefore improve the identified weak E&S reporting abilities of the client. This will also help the client understand where it stands compared to good industry practices locally and worldwide. It was also expressed by the client their challenges in structuring and gathering all ES information for easy access and adequate presentation of it. This project will help them in this challenge. This project’s value addition is also anticipated through improvements in the client’s E&S system, capacity to maintain alignment with FMO standards and manage ES risks, and further acceleration of Ulusoy’s E&S performance.
More investments
| Date | Total FMO financing |
|---|---|
| 12/15/2023 | USD 12.00 MLN |
| 12/13/2021 | USD 15.00 MLN |
| 12/13/2021 | USD 10.00 MLN |
| 9/10/2018 | USD 18.00 MLN |
- Region
- Europe & Central Asia
- Country
- Türkiye
- Sector
- Agribusiness, Food & Water
- Publication date
- 5/23/2024
- Effective date
- 4/22/2024
- Total FMO financing
- EUR 0.02 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B