Early Warning System

Regions

Europe and Central Asia

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

Countries

Poland

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

Aug 19, 2025

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

Turpaz Industries

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)

$ 29.10 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.
Currency conversion note:
Bank reported 25
Converted using 2025-08-19 exchange rate.

Loan Amount (USD)

$ 29.10 million

Project Cost (USD)

$ 29.10 million

Other Related Projects

EBRD-53345 DFF - Turpaz

Primary Source

Original disclosure @ EBRD website

Updated in EWS Nov 13, 2025

Disclosed by Bank Nov 12, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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 EBRD, the project consists of the provision of a EUR 25 million long-term loan to subsidiaries (Turpaz Belgium and Pollena Aroma Poland) of Turpaz Industries.

The proceeds of the loan will be used to finance the Company's acquisitions, and working capital and capex needs of its subsidiaries in Poland.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

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.

As stated by the EBRD, Turpaz Belgium and Pollena Aroma, limited liability companies incorporated in Belgium and Poland respectively, are subsidiaries of Turpaz Industries.

Turpaz Industries group operates in the development, production, marketing and sale of natural and synthetic sweet and savory flavors, seasonings, and unique functional solutions; fragrances, used in the production of cosmetics, toiletries, personal care, air care and odor neutralizer products; and specialty fine ingredients for the pharma industry, the agro and fine chemicals industry, the food supplements industry, as well as citrus products and aromatic chemicals for the fragrance and flavors industries.

Turpaz Industries is an international company operating in over 90 countries with more than 4,000 customers. The group manages 25 production sites, R&D centers and sales offices worldwide, employing around 960 people. The company offers a broad portfolio of solutions for the food, beverage, cosmetics, toiletries, and chemical industries.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Turpaz Industries	Client	Industry and Trade

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.

Client - Turpaz Industries:

Yoni Adini
Email: yoni.adini@turpaz-group.com
Phone: +972 548010552
Website: https://turpaz.co.il/
Address: Hashita 10, Caesarea, Israel

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