Arkas Holding inks $75m loan in ‘milestone’ deal with ADB and DEG

Arkas Holding has signed a ground-breaking financing deal with ADB and a German development finance institution.

A $75m loan agreement has been signed with the Asian Development Bank (ADB) and the German development finance institution DEG – Deutsche Investitions-und Entwicklungsgesellschaft mbH.

This forms part of the total $335m financing package arranged by International Finance Corporation (IFC), a World Bank Group institution.

The deal, according to the company, will support Arkas Holding’s plans over the next eight years, contributing primarily to the capacity expansion of Autoport, as well as the modernization of its maritime fleet and the increase of its logistics capacity.

The funds are also planned to be used for investments in vessels and logistics equipment, the development of port operations, and the procurement of tractors and other operational equipment.

At the signing ceremony held in İzmir on May 13, representatives from Arkas Holding, IFC, ADB, and DEG came together.

Lucien Arkas, Arkas Holding chairman, said in his speech at the ceremony “Taking the financing process we initiated with IFC into its second phase, together with strong international institutions