Tashkent, Uzbekistan (UzDaily.com) — IFC, a member of the World Bank Group, has signed four sustainability-linked loans in the total amount of US$250 million to Coca-Cola İçecek A.Ş. (CCI) of Türkiye and its three subsidiaries in Uzbekistan, Tajikistan, and Iraq.  

IFC’s financing will help CCI, a multi-national beverage producer, implement sustainable manufacturing processes in four countries including reducing energy and water usage and improving circular economy practices. IFC will also support CCI in its ongoing commitment to reduce the gender gap in its workforce, management, and its Board.

“Our company’s purpose is to create value for our consumers and customers, our people, and our community. We also seek to positively impact people’s lives, communities, and the planet through our sustainability initiatives,” said Erdi Kurşunoğlu, CCI’s Chief Financial Officer. “This deal is an important milestone in achieving CCI’s long-term expansion plans in some of its fastest-growing markets.” 

CCI’s expansion efforts are expected to have significant economy-wide effects, as the investment is anticipated to support the creation of many direct and indirect jobs along the company’s supply chains in the four countries. Climate finance constitutes 60% of the financing, which would be directed towards increasing recycled PET bottling capacities, energy-efficient equipment, renewable energy projects, and water savings measures. 

Boosting female labor participation and women’s empowerment, particularly in management and board positions, is another key objective for CCI. CCI has committed to increasing female representation among new hires and at the management level to 35 percent and 40 percent, respectively, by 2030.

"Through our collaboration with CCI, we will help elevate the beverage sector's sustainability path and enhance industry practices,” said Wiebke Schloemer, IFC Director for Türkiye and Central Asia. “This financing will support CCI in implementing sustainable manufacturing processes, promoting gender equality, and boosting job creation. The investment aligns with our mission to foster inclusive economic development by stimulating growth in the project countries' supply chain, logistics, and distribution sectors."