Turkish food retail chain Migros to strengthen gender equality and greener stores
FINANCIAL – One of Turkey’s leading food retailers, Migros, will expand its business with a € 60 million loan from the European Bank for Reconstruction and Development. The company aims to redouble its efforts to employ a gender-balanced workforce and further improve the energy efficiency of its store network with new EBRD funding.
Migros is present in 81 Turkish provinces, through a network of 2,286 grocery stores under the Migros, Migros Jet, 5M and Macrocenter banners. The company is committed to creating more career opportunities for women and has fully integrated sustainability into its operations.
The EBRD loan will help Migros to develop and implement an Equal Opportunities Action Plan, which will define gender-sensitive recruitment strategies and open up more employment opportunities for women. women. The retailer plans to hire more than 2,000 women to fill the new positions created by the growing demand for groceries.
In order to meet customer demand stimulated by the coronavirus pandemic, and in line with its sustainable development strategy, the company aims to open new stores and renovate others, to integrate renewable energy systems and energy saving technologies. Migros will also work with the EBRD to reduce the environmental footprint of its private label products.
Greening the local economy is one of the main objectives of the Bank in Turkey. The EBRD is committed to providing funds and political support that will help Turkey cope with the coronavirus crisis and use the current situation to ‘go green’ in a decisive way.
Migros is a long-standing EBRD client in Turkey and Kazakhstan.
The EBRD is a leading institutional investor in Turkey and has invested nearly € 13 billion in the country to date through 334 projects, 95% of which are in the private sector. In 2020, the Bank responded to the Covid-19 pandemic by increasing its financing in the country to 1.7 billion euros against 1.0 billion euros in 35 projects in 2019.