{"id":60647,"date":"2024-12-23T12:49:30","date_gmt":"2024-12-23T09:49:30","guid":{"rendered":"http:\/\/www.textilegence.com\/?p=60647"},"modified":"2024-12-24T12:50:56","modified_gmt":"2024-12-24T09:50:56","slug":"an-investment-of-50-million-dollars-from-ifc-to-kucukcalik","status":"publish","type":"post","link":"https:\/\/www.textilegence.com\/en\/an-investment-of-50-million-dollars-from-ifc-to-kucukcalik\/","title":{"rendered":"An investment of 50 million dollars from IFC to K\u00fc\u00e7\u00fck\u00e7al\u0131k"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.ifc.org\/en\/home\" target=\"_blank\" rel=\"noreferrer noopener\">IFC<\/a>, a member of the World Bank Group, has announced a 50 million dollar investment in K\u00fc\u00e7\u00fck\u00e7al\u0131k Tekstil Sanayi ve Ticaret A.\u015e. (K\u00fc\u00e7\u00fck\u00e7al\u0131k), a home textiles <a href=\"https:\/\/kucukcalik.com.tr\/\" target=\"_blank\" rel=\"noreferrer noopener\">manufacturer<\/a> operating in T\u00fcrkiye and Egypt, to support its capacity expansion efforts and help enhance its sustainability practices. IFC\u2019s loan consists of 30 million dollars from IFC\u2019s own account and 20 million dollars from IFC\u2019s Managed Co-Lending Portfolio Program (MCPP). This investment will enable K\u00fc\u00e7\u00fck\u00e7al\u0131k to boost its production capacity sustainably by building a new polyester chip manufacturing plant, expanding its yarn spinning facility, and establishing a <a href=\"https:\/\/www.textilegence.com\/en\/category\/topical\/\" target=\"_blank\" rel=\"noreferrer noopener\">textile<\/a> recycling facility in its manufacturing unit in Sakarya, T\u00fcrkiye.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, the installation of rooftop solar photovoltaic systems in K\u00fc\u00e7\u00fck\u00e7al\u0131k\u2019s manufacturing unit in Bursa, T\u00fcrkiye, will significantly boost sustainability efforts. The project aims to create a positive environmental impact by promoting circular economy practices, including a more energy and resource-efficient yarn production process, and increased renewable energy usage. It is also expected to yield economy-wide effects through value-addition, job creation, and foreign exchange revenue generation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-new-investment-will-create-jobs-and-boost-employment-in-turkiye\"><strong>The new investment will create jobs and boost employment in T\u00fcrkiye<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">IFC\u2019s investment is projected to create approximately 700 direct and indirect jobs, boosting employment in T\u00fcrkiye. IFC will also collaborate with the company to improve policies and practices on workplace gender inclusion and raise corporate gender awareness, aligning with the World Bank Group\u2019s goal of closing gender gaps and enhancing opportunities for women in the workforce.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe are thrilled to announce this significant partnership with IFC, which marks a pivotal moment in our journey towards sustainable growth and innovation. This project will not only enable us to expand our production capabilities but also enhance our commitment to sustainability,\u201d said Ya\u015far K\u00fc\u00e7\u00fck\u00e7al\u0131k, Chairman of K\u00fc\u00e7\u00fck\u00e7al\u0131k Group. He added that they look forward to leveraging this investment to strengthen their competitive edge and contribute to T\u00fcrkiye&#8217;s position in global trade.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Wiebke Schloemer, IFC Director for T\u00fcrkiye and Central Asia stated that this investment will drive competition in the synthetic fabric manufacturing industry, which is crucial for the Turkish economy and disclosed: \u201cSupporting companies like K\u00fc\u00e7\u00fck\u00e7al\u0131k in their strategic efforts to vertically integrate and optimize input management is vital to strengthen the country\u2019s position in global trade.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">IFC has supported private sector development in T\u00fcrkiye for more than 50 years, with investments of over $20 billion in the last decade alone. T\u00fcrkiye represents IFC&#8217;s third-largest country exposure globally, with a committed portfolio of close to $5.4 billion as of December 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IFC, a member of the World Bank Group, has announced a 50 million dollar investment in K\u00fc\u00e7\u00fck\u00e7al\u0131k Tekstil Sanayi ve Ticaret A.\u015e. (K\u00fc\u00e7\u00fck\u00e7al\u0131k), a home textiles manufacturer operating in T\u00fcrkiye and Egypt, to support its capacity expansion efforts and help enhance its sustainability practices. IFC\u2019s loan consists of 30 million dollars from IFC\u2019s own account [&hellip;]<\/p>\n","protected":false},"author":26,"featured_media":60645,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9859],"tags":[10137,10369,12450],"class_list":["post-60647","post","type-post","status-publish","format-standard","has-post-thumbnail","category-topical","tag-investment","tag-textile-news-en","tag-topical"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.1 (Yoast SEO v28.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>An investment of 50 million dollars from IFC to K\u00fc\u00e7\u00fck\u00e7al\u0131k - Textilegence<\/title>\n<meta name=\"description\" content=\"IFC, a member of the World Bank Group, has announced a 50 million dollar investment in K\u00fc\u00e7\u00fck\u00e7al\u0131k Tekstil Sanayi ve Ticaret A.\u015e....\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.textilegence.com\/en\/an-investment-of-50-million-dollars-from-ifc-to-kucukcalik\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"An investment of 50 million dollars from IFC to K\u00fc\u00e7\u00fck\u00e7al\u0131k\" \/>\n<meta property=\"og:description\" content=\"IFC, a member of the World Bank Group, has announced a 50 million dollar investment in K\u00fc\u00e7\u00fck\u00e7al\u0131k Tekstil Sanayi ve Ticaret A.\u015e. 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