Early Warning System

Regions

Europe and Central Asia

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

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

Jun 25, 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

Arkas Lojistik A.S.

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

Sectors

Energy
Industry and Trade
Transport

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)

$ 25.10 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 23.5
Converted using 2024-06-26 exchange rate.

Loan Amount (USD)

$ 25.10 million

Project Cost (USD)

$ 25.10 million

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 9, 2024

Disclosed by Bank Jun 25, 2024

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 senior loan of up to EUR 23.5m to Arkas Lojistik A.S.. The Bank's proceeds will be used to finance the acquisition of heavy equipment, rail wagons and supplementary equipment.

The Project's goal is to strengthen the Borrower's competitive position in the logistics market in Turkiye.

The client will purchase (i) heavy equipment to transport and assemble wind turbine parts, supporting wind turbine supply chain and (ii) wagons and equipment to transport freight via railways, supporting modal shift from road to railways.

The wind turbine installation capacity is expected to increase over the next decade in Turkiye, which is expected to result in a corresponding rise in the demand for wind turbine transportation services. The successful implementation of the Project will prevent potential bottlenecks in wind turbine transportation in Turkiye.

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, Arkas Lojistik A.S., the Borrower, was founded in 1989 in Turkiye and specialises in domestic and international transportation, intermodal transportation (via rail, land and sea), big project transportation and warehousing. The company is a subsidiary of Arkas Holding A.S., and a former client of the Bank with the last transaction (Arkas, OpID: 41951) signed in 2011 and completed in 2021.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
Arkas Holding AS	Parent Company	Industry and Trade	owns	Arkas Lojistik A.S.	Client	Transport

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 - Arkas Lojistik A.S.:

Perla Karmona
Email: perla.karmona@arkas.com.tr
Phone: + 90 232 411 0253 / + 90 232 463 6028
Website: www.arkas.com.tr
Address: Liman Caddesi Arkas Binasi, No:38, Alsancak, 35230, Izmir, 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