Arcelik SLL (IFC-49303)

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.
Specific Location
Kayseri, Aksaray
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
May 8, 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
ARCELIK AS
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
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)
$ 227.23 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.
Loan Amount (USD)
$ 227.23 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)
$ 227.23 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
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 8, 2026

Disclosed by Bank Dec 18, 2025

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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.

As stated on the project disclosure page, the proposed IFC A loan of up to €100 million is IFC’s first sustainability linked loan (SLL) to Arçelik. The IFC Loan will help finance Arçelik’s €200 million growth and development plan which includes:

(a) earthquake preparation efforts in Türkiye, which includes strengthening and fortification of its existing buildings and home appliances manufacturing facilities in Türkiye (approximately €40 m);
(b) two solar power plant investments (approximately €27.5 m); and
(c) R&D expenditures in Türkiye (approximately €132.5 m).

The Kayseri and Aksaray solar power plants (SPP) that will use IFC funding were under construction during IFC’s Project due diligence. The two SPPs have started operating in October and December 2024, respectively. The SPP’s transmission lines (TLs) will not be refinanced using IFC's SLL. The Aksaray's TL is an associated facility since it is dedicated for the Aksaray solar PV and would not be viable without it. On the other hand, the Kayseri TL is shared with two other independent solar facilities; hence, it is not considered a project or associated facility. IFC currently has existing investments in Arçelik #45316 (https://disclosures.ifc.org/project-detail/ESRS/45316/Arcelik-ltf).

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
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 IFC, Arçelik A.S. is a leading manufacturer of consumer durables and consumer electronics operating in 58 countries with headquarters located in Istanbul, Türkiye. The Company has 45 manufacturing facilities in 13 countries and has several R&D design centers across the globe. Arçelik is publicly listed and controlled by Koç Holding, the largest Turkish conglomerate.

Arcelik's current ownership structure is as follows: Koc Group (57.2%), Burla group (17.6%), Arcelik (10.2%), and publicly listed shares on Borsa Istanbul (15.0%). Koc Holding is the leading industrial conglomerate of Turkiye, mainly engaged in the energy, automotive, consumer durables, and finance sectors. Koc Holding is majority-owned by the Koc family of Turkiye, while the remaining shares (26.9%) of Koc Holding are publicly listed.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Koc Holding AS Parent Company Industry and Trade owns Arcelik A.S. 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 - Arçelik A.S.:

Mine Sule Yazgan - Finance and Enterprise Risk Executive Director
Phone: +90 532 440 80 26
Email: minesule.yazgan@beko.com 
Address: Karaagaç Caddesi 2-6, Sütlüce, 3445 Istanbul, Türkiye
Website: https://www.arcelikglobal.com/en/  

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

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

How it works

How it works