Luxembourg, 5 December 2012
EIB supports ARCELIK’s R&D programme
The European Investment Bank (EIB) is providing a loan of EUR 100 million to Arçelik A.S. for its research and development programme to improve product performance and broaden its product range.
This long-term EIB loan to Arçelik will finance its R&D activities in the fields of energy efficiency, advanced material technologies, innovative technologies, product design, smart home connectivity and clean manufacturing over the period 2012-2015. Arçelik is the third largest home appliance manufacturer in Europe and is strongly committed to the in-house development of its technology. Arçelik’s R&D organisation employs more than 850 researchers and engineers and cooperates closely with several Turkish and international universities.
Pim van Ballekom, EIB Vice-President responsible for operations in Turkey said: “We are particularly pleased to support Arçelik in its innovative and competitive strategy. Boosting R&D is a priority for the EIB, and this is one of our first operations in support of private sector R&D in the country. Innovation is essential for Europe to help secure competitiveness in the context of global competition, safeguard jobs and achieve sustainable growth. Moreover, Arçelik’s R&D programme will further improve the environmental sustainability and quality of its product portfolio”.
Note to editors:
The European Investment Bank is the EU bank owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2011, total EIB lending reached EUR 61 billion.
The EIB, as the European Union’s bank, is a long-standing financial partner of Turkey (with almost 50 years of operations) offering broad experience with public and private investments in all key sectors. The EIB has made a significant contribution to Turkey’s economy and to the country’s EU pre-accession process through emblematic infrastructure projects such as the Bosporus bridge and tunnel, the Istanbul Metro and the light rail systems in Antalya, Samsun and Bursa, and key private sector industrial projects.
In 2011, the EIB provided total lending of EUR 2 billion for projects across all of the country’s key economic sectors. As a result, in 2011 Turkey continued ranking first among recipient countries outside the EU.
Helen Kavvadia, email@example.com; tel.: +30 210 6824517