EBRD; Uludag
Uludag produces branded soft drinks in Turkey. Credit: Ernesto Rodriguez / Pixabay.

Turkish soft drink producer Uludag has received a loan of $18.1m (€15m) from the European Bank for Reconstruction and Development (EBRD) to expand its operations.

Uludag is one of the leading producers of branded soft drinks in Turkey.

It is currently led by the third and fourth generations of the founding family.

The loan will be used by Uludag to fund its research and development (R&D) activities, which will further improve its product quality and competitiveness in the domestic and overseas market. It will also use the loan to refinance the short-term debt.

Currently, Uludag operates two facilities, where it bottles soft drinks and mineral water.

The two facilities are located in Turkey’s eastern province of Bursa.

In addition to the local market, Uludag soft drinks have a presence in the Middle East and North Africa (MENA) and in Central Asia.

EBRD’s new loan will also be used to boost its export potential.

In a statement, EBRD said: “Enhancing the competitiveness of successful Turkish companies is among the bank’s priorities in Turkey.”

In 2014, EBRD provided a loan of $36m (€30m) to Uludag.

So far, EBRD has invested nearly $16.2bn (€13.5bn) in Turkey by supporting approximately 340 projects.

This year, the bank plans to focus on investments that support a sustainable and inclusive post-Covid-19 recovery.

In 2019, EBRD agreed to provide a loan of $25m to support operations of Kazakhstan-based food and beverages manufacturer RG Brands.

RG Brands is engaged in the production of a wide range of non-alcoholic beverages, including juices, soft drinks, UHT milk, tea, water, and franchised brands.