Garanti BBVA Finances UNO’s Sustainable Production Transformation
Garanti BBVA has provided €13 million to UNO, one of Türkiye’s leading bread manufacturers. The funding will modernize production lines to reduce natural gas and electricity consumption, enhance energy efficiency and reduce carbon emissions.
This financing for UNO was part of an agreement signed in November between Garanti BBVA and Spain’s Instituto de Crédito Oficial (ICO), which provides up to $100 million in long-term financing for sustainability and investments made by companies in Türkiye with ties to Spain.
The investment reflects Garanti BBVA’s commitment to supporting the transformation of the real sector through renewable energy, energy efficiency and low-carbon initiatives. The bank recently surpassed TL 1 trillion in sustainable financing, a key milestone in its commitment to provide TL 3.5 trillion between 2018 and 2029.
Garanti BBVA CEO Mahmut Akten stressed that the financing is a direct result of the bank’s collaboration with ICO and aligns with its goal of supporting the industry to reduce carbon emissions and improve energy efficiency. Surpassing the TL 1 trillion milestone in sustainable finance “is a concrete demonstration of our commitment to this area, and the impact we are creating together with our customers,” the CEO said, adding: “We will continue to add value to the Turkish economy with the global strength of the BBVA group, offering long-term solutions to our customers in their sustainable transformation journeys.
Meanwhile, UNO Board Chair Federico Caruncho underlined the significance of the financing for the company’s sustainable production aims. “The investment in the modernization of our production lines will not only increase operational efficiency, it will also contribute to our goal of reducing our environmental impact. We are delighted to work with a reliable financial partner like Garanti BBVA,” he said.