Noble Hammadde Ticaret AS, a grain and oilseeds business operating in Turkey and a wholly-owned subsidiary of global supply chain manager Noble Group (SGX: N21), has secured a US$30 million ($42 million) loan from the European Bank for Reconstruction and Development (EBRD) to support the company’s further development.

Noble mainly imports soybean, soybean meal, soybean oil, sunflower oil, rice, corn and wheat from Noble Group companies and third parties and sells these raw materials in the local market. The processing of the grain and oilseeds are outsourced to local partner companies.

The EBRD financing, an annual loan that is renewable for three years, will be used to support Noble Hammadde Ticaret’s working capital needs. Under the loan structure, the EBRD is retaining US$10 million on its own account with the remaining amount to be syndicated to a third party bank.