Newko Balkan II

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Ozerler Holding is a family company which has interests in marble mining and processing, the manufacture of various rubber related products and tourism. This company owns Ozer Konveyor Band Turizm Sanayi ve Ticaret A.S.’s (Ozerband) who in turn own Newko Balkan LLC (“Newko Balkan” or the “company”), http://www.newkobalkan.com/), a leading conveyor belt manufacturer in Turkey.Newko Balkan has production units for conveyor belts, conveyor belt fabrics, technical rubber parts, rubber compounding, v- belts, and rubber boots and shoes. The conveyor belt unit produces textile reinforced conveyor belts, using its own conveyor belt fabrics. Newko Balkan has only one plant, in Suhareke, around 60-70 km away from Pristina, the capital city of Kosovo. The plant was acquired in 2005 through privatization and was formerly known as Balkan Belt Suhareke.Newko Balkan seeks a senior IFC A loan of up to €4 million (the “IFC Loan”) to help fund €2.4 million in COVID-related working capital needs and €1.6 million in upgrade investments to increase efficiency (together the “Project”). Upgrade investment includes installation of equipment and machinery for steel cord production by 2023 as used in the production of conveyor belts.IFC lent €5.2 million to the Company in 2010 to support its ramp-up and refurbishment investments following its 2005 privatization, IFC exited the project in 2019. Please refer to its environmental and social review summary through: https://disclosures.ifc.org/project-detail/ESRS/27038/newko-balkan ).