BAKU, Azerbaijan, December 4. The European Bank for Reconstruction and Development (EBRD) has extended a 50 million euro loan to AKLease, a subsidiary of Akbank in Türkiye, to support green investments such as energy efficiency, renewable energy, and climate resilience, Trend reports.
The funding will be used for on-lending to sub-borrowers under AKLease's ECOLease product, which specifically finances projects in areas like renewable energy, waste management, and water conservation.
This loan is part of the EBRD’s Türkiye Green Economy Financing Facility II (GEFF II), which aims to promote green finance in Türkiye. Through this facility, the EBRD plans to provide 750 million euros in financing to eligible financial institutions in Türkiye, helping businesses with green investments.
The loan will finance a variety of projects, including gender-responsive initiatives, renewable energy, energy efficiency, and efforts to support biodiversity and the blue economy.
Since 2009, the EBRD has been one of Türkiye’s key investors, committing over 21 billion euros through 461 projects.