The EBRD is making a €1.4 million investment in Meykar, one of Turkey’s leading private manufacturers and distributors of frozen beverages to expand the company’s capacities and product range.
The two-tranche financing is in the form of a convertible loan of €0.7 million that has already been disbursed and a planned €0.7 million equity injection that will come into effect as the company implements its business development plan.
The EBRD’s funds will be used to finance the purchase and installation of new equipment lines. The improvements will increase Meykar’s production capacity and distribution network across Turkey.
“We are very pleased to help Meykar’s management team with this transaction, which underlines our commitment to further develop Turkey’s fast-growing small and medium-sized private business sector. The Bank is an early investor in the company and we will continue providing our support as the company continues its growth,” Michael Davey, EBRD Director for Turkey, said.
Julia Elaine Robertson and Shira Rachel Babow are exchange students at Bilkent University, located in the country’s capital city Ankara. After completing their studies, they will return to University of California. At Bilkent, international faculty and instructors make up more than a quarter of all academic staff, representing 40 different countries. There is a growing body of full-time international students, as well as exchange students visiting from more than 250 partner institutions.
Turkey's economy grew 11 percent in the first quarter of 2011, Turkish Statistics Institute said on Thursday. The economy had grown 9.2 percent in the last quarter of 2010, and 8.9 percent throughout the previous year, higher than the expectations of the government. Turkey's GDP was up 17.9 percent in current prices and reached 284.8 billion Turkish liras-TL (175.4 billion USD). In constant prices, Turkey's economy grew 11 percent and reached 25.8 billion TL (15.8 billion USD).
A group of Turkish scientists have discovered a gene that causes end-stage kidney disease in children.
