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EBRD continues to expand green financing in Turkey

ISTANBUL

The European Bank for Reconstruction and Development (EBRD) grants a €25 million loan to QNB Finans Leasing to support sustainable investments in Turkey.

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The funds will expand QNB’s lending to private sector small and medium-sized enterprises (SMEs) for green investments, providing lease financing to companies implementing green economy investments, for example, in the energy efficiency and renewable energies.

EBRD President Odile Renaud-Basso was also present at the signing of the loan agreement. Renaud-Basso arrived in Turkey on October 6 for a three-day visit to hold a series of high-level meetings with senior officials, private sector clients, civil society organizations and foreign policy experts.

“The loan is provided under the EBRD Türkiye Green Economy Financing Facility (GEFF Türkiye) and builds on the success of its predecessor, the Türkiye Sustainable Energy Financing Facility (TurSEFF) “, the bank said in a statement.

This will be the EBRD’s third loan under GEFF Türkiye, launched earlier this year.

The loan also includes a gender-responsive component to support financial access to green investments for women-led businesses, including a technical cooperation package that oversees gender baseline assessments, outreach opportunities and capacity building. capacity on gender-specific supply and demand issues.

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The EBRD is committed to promoting a sustainable future in Turkey by developing green finance in the country, the bank said.

By strongly supporting private sector climate investments, the bank aims to accelerate the country’s transition to a green economy; it is currently carbon-intensive and vulnerable to climate-related risks.

The EBRD is a leading institutional investor in Turkey. It has invested nearly 16.8 billion euros in 381 projects in the country since 2009, mainly in the private sector.

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