The European Investment Bank (EIB) is providing a loan of EUR 100 million to Arçelik A.S. for its research and development programme to improve product performance and broaden its product range. 

This long-term EIB loan to Arçelik will finance its R&D activities in the fields of energy efficiency, advanced material technologies, innovative technologies, product design, smart home connectivity and clean manufacturing over the period 2012-2015. Arçelik is the third largest home appliance manufacturer in Europe and is strongly committed to the in-house development of its technology. Arçelik’s R&D organisation employs more than 850 researchers and engineers and cooperates closely with several Turkish and international universities.

Pim van Ballekom, EIB Vice-President responsible for operations in Turkey said: “We are particularly pleased to support Arçelik in its innovative and competitive strategy. Boosting R&D is a priority for the EIB, and this is one of our first operations in support of private sector R&D in the country. Innovation is essential for Europe to help secure competitiveness in the context of global competition, safeguard jobs and achieve sustainable growth. Moreover, Arçelik’s R&D programme will further improve the environmental sustainability and quality of its product portfolio”.