BAKU, Azerbaijan, December 12. The European Bank for Reconstruction and Development (EBRD) has announced a 25 million euro loan to Garanti BBVA Leasing in Türkiye, aimed at supporting green investments such as energy efficiency, renewable energy, and climate resilience initiatives, Trend reports.
The loan is part of the EBRD’s Türkiye Green Economy Financing Facility, which plays a crucial role in the country's green transition efforts.
This funding will be on-lent to sub-borrowers, including small and medium-sized enterprises (SMEs), to help make energy-efficient technologies and renewable energy systems more affordable. The project also includes a technical cooperation package focused on gender-responsive activities, promoting equal access to climate finance for both men and women.
Addressing climate change is a key national priority for Türkiye, which has committed to reaching net-zero emissions by 2053. The inclusion of leasing companies in green financing is important, as they provide financial solutions that help SMEs invest in green and low-carbon technologies.
Oksana Yavorskaya, Deputy Head of Türkiye at the EBRD, emphasized the role of leasing companies in bridging the financing gap for industries transitioning to sustainable practices. Selahattin Güldü, General Manager of Garanti BBVA Leasing, expressed enthusiasm for the new green loan, which will help finance energy-saving projects for SMEs focused on energy efficiency and renewable energy.
Garanti BBVA Leasing, a subsidiary of Garanti BBVA, has been a key partner in Türkiye's financial sector since its establishment in 1990. The EBRD has invested over 21 billion euros in Türkiye across 465 projects since 2009, with a significant focus on the private sector.