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SOFIA (Bulgaria), March 14 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it will provide a $50 million (45.6 million euro) long-term loan to Turkey's edible oils producer Bunge to finance the company's working-capital needs and capital investments at its plants in the Ayvalik and Thrace regions.

The EBRD and Bunge will also partner in sustainability projects, help the company develop certified organic olive production in Turkey, and to analyse the climate change resilience of the olive supply chain, the bank said in a statement last week.

"Bunge is committed to advancing sustainability where we operate and we are pleased to be able to collaborate with EBRD in such relevant projects. This initiative aligns with our focus in providing low carbon and sustainable solutions for the production of food, feed, and fuel to consumers around the globe," Rob Coviello, chief sustainability officer and government affairs at Bunge, said in the statement.

Bunge processes oilseeds, cereals, protein products, and crushes, and refines and bottles oilseeds to produce olive oil, sunflower oil, and cooking oils. The company also owns leading consumer brands in Turkey such as Komili, Kirlangıc and Sezai Omer Madra, according to the statement.

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