KILIC DENIZ URUNLERI URETIMI IHRACA (FMO-59779)

Countries
  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 8, 2021
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Kilic Deniz
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 77.03 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 65.00 million
Converted using 2021-03-08 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 27, 2021


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Project Description

According to the Bank's website, the project provide funding to Kilic Deniz to finance creation of new jobs in rural areas of Turkey and generation of hard currency for Turkey via its seafood exports to 60 countries. 

Key environmental and social risks relate to labor and working conditions, pollution, community health and safety, impact on biodiversity. 

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors
Private Actors Description

Kilic Deniz started its operations in 1993 and has become a major aquaculture player in Turkey, operating a fully integrated value chain with offshore and inland facilities. Aquaculture operations of Kilic Deniz are organized in four business segments: (i) offshore marine farms - production of seabass, seabream and meagre; (ii) inland fresh-water farms - production of trout and salmon trout; (iii) fattening and farming of tuna and (iv) juvenile fish hatchery and fish feed production.

Contact Information

PROJECT CONTACT INFORMATION

Not available at the time of disclosure

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism