CCI International (IFC-47931)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Iraq
  • Tajikistan
  • Turkiye
  • Uzbekistan
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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
B
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
Mar 28, 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
Coca Cola Icecek A.S.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • 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)
$ 250.00 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
Primary Source

Original disclosure @ IFC website

Updated in EWS May 17, 2024

Disclosed by Bank Mar 28, 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, Coca Cola Icecek A.S. (“CCI”), incorporated in Turkey and a bottler and distributor of sparkling and still beverages of The Coca-Cola Company (“TCCC”) trademarks, is undertaking a multi-country multi-year investment program.IFC has been invited to provide long term debt financing to fund CCI’s investment program.

The proposed investment will support the Company’s investment program in Turkey, Uzbekistan, Iraq and Tajikistan.

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.

This is a Category B project according to IFC’s 2012 Policy on Environmental and Social Sustainability due to limited E&S risks and impacts associated with the existing and planned CCI bottling plants in Türkiye, Uzbekistan, Tajikistan, and Iraq. Key E&S risks and issues for this investment are: (i) company’s capacity to assess and manage E&S risks and impacts, for capacity expansion and greenfield plants; (ii) effectiveness of CCI’s Environmental, OHS and Supply Chain policies and management systems, including CAPEX / Operational Expenditure (OPEX) for the modernization of its beverage facilities and the sourcing of its raw materials (sugar, PET, aluminum, solar panels); (iii) fair treatment and safe working conditions for its employees and contractors, including gender based violence; (iv) construction related labor/OHS policies and contractors’ management practices for brownfield/greenfield plants; (v) emergency preparedness and response during construction and operation; (vi) resource efficiency measures in line with Good International Industry Practices (GIIP) and continuous monitoring of water/energy usage and efficiency, air emissions, noise, solid/hazardous waste and wastewater; (vii) sustainable water resources management; (viii) impacts on nearby community health and safety from transport; (ix) food safety management; (x) land acquisition related to greenfield investments and right of way for water intake and discharge lines as per PS5, (xi) supply chain risk screening and management for presence of child/forced labor, significant OHS risks and significant conversion of natural habitat; and (xii) effectiveness of stakeholders’ engagement, including community grievance mechanisms.

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

The proposed IFC investment comprises of an A Loan of up to US$250 million in own account financing.

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.

Coca Cola Icecek A.S. (CCI) is the sixth-largest bottler of The Coca-Cola Company (TCCC) globally, with operations in 11 countries including Turkey, Kazakhstan, Pakistan, Iraq, Azerbaijan, Turkmenistan, Kyrgyzstan, Jordan, Tajikistan, Uzbekistan and Syria. With 30 bottling plants and 146 production lines, CCI produces, distributes and sells five categories of beverages: soft drinks, water, juices, energy drinks and teas.

CCI is a public listed company with 28.9% shareholding being publicly traded, 50.2% owned by Anadolu Group, 20.1% owned by TCCC and 0.8% owned by Ozgorkey Holding.                                                    

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Coca Cola Icecek AS (CCI) 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.

Coca Cola Icecek
Emre Karagozlu
Group Treasury Manager

emre.karagozlu@cci.com.tr
OSB Mah. Deniz Feneri Sok. No:4 Ümraniye/Istanbul
www.cci.com.tr

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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How it works