Turkish honey company Altıparmak wins EBRD support

ISTANBUL

The European Bank for Reconstruction and Development (EBRD) has said it is boosting Turkey’s leading honey company, Altıparmak, with a 20 million Turkish Lira loan (4.4 million euro equivalent) to support the company’s advancement in the value chain.

According to the EBRD statement, which was released on Jan. 5, the funds will allow Altıparmak to enhance its natural honey and bee product range, which it packages under the brand name Balparmak.

“It will also finance the company’s development of new value-added apitherapy (a branch of alternative medicine based on honeybee products) supplements and functional bee products such as pollen, propolis and royal jelly,” read the statement.

The EBRD credit will also refinance existing loans, enabling the company to focus on leading-edge innovation and its growth plans, the bank also noted.

The EBRD loan will also benefit industry stakeholders and local communities in Turkey, according to the statement.

The company already offers training to beekeepers and is extending this to create employment opportunities, particularly for women and young people, in the distant mountainous areas of the Muğla region where the company has one of its two current facilities.

The training program will include distance learning with innovative online tools and mobile support teams on the ground.