Early Warning System

Countries

Turkiye

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Oct 22, 2024

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

TEAM AGRO GIDA SANAYI VE TICARET AS

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Agriculture and Forestry
Industry and Trade

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 30.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Project Cost (USD)

$ 30.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

Translation: Team Agro (Turkish)

Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 22, 2025

Disclosed by Bank Sep 19, 2024

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the proposed transaction involves provision of up to USD 30m senior loan to the Borrower to finance its capex plans (USD 20m) and working capital needs (USD 10m).

The proposed transaction will enable the Borrower to finance its capex plans in relation to a geothermal tomato greenhouse investment in Aksaray, Turkiye amounting to up to USD 20m and working capital needs associated with its existing commodities business line amounting to up to USD 10m.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Categorised B (ESP 2019). The large-scale construction and operation of greenhouses is associated with a number of environmental and social issues which are readily identified and managed through appropriate mitigation measures.

The project requires extensive land take, with over 250 hectares required across the two phases of the project. All land has been acquired from private owners on a willing buyer / willing seller basis and no resettlement of persons or businesses was required. The chosen sites do not overlap with, or impact upon, any designated or protected areas.

The Project will require approximately 170 farm workers on a daily basis, primarily consisting of female farmers.

The Company will also require significant amounts of cold water for irrigation purposes which will be provided by from groundwater resources.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Provision of up to USD 30m senior loan.

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Established in 2012, Team Agro Gida Sanayi ve Ticaret A.S. engages in soft commodity trading as well as licensed warehousing. In terms of shareholding structure, the Company is currently majority owned by the founding shareholders of Kervan Gida Sanayi ve Ticaret A.S., a publicly-listed jellied snacks producer in Turkiye, which holds 88% of outstanding shares of the Company with the remaining 12% owned by Selim Ogul.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	TEAM AGRO GIDA SANAYI VE TICARET AS	Client	-

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

COMPANY CONTACT INFORMATION

Selim Ogul
selim.ogul@teamagro.com
+90 212 444 5859
+90 212 877 4353
https://www.teamagro.com/home
Marmara Mah. Sadakat Sk. No:3 P.K. 34524 Beylikduzu / Istanbul, Turkiye

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html