Burgan Bank Türkiye goes green with EBRD backing

• EBRD provides green loan to Türkiye’s Burgan Bank
• Transaction marks its first green-linked financing
• Loan proceeds will enable green projects in commercial, public and residential sectors

The European Bank for Reconstruction and Development (EBRD) is providing a €25 million loan for green financing to Türkiye’s Burgan Bank, marking the latter’s first green-linked financing.

The loan comes under the second phase of the EBRD’s flagship Green Economy Financing Facility (GEFF), and the proceeds will support Burgan Bank’s evolving sustainability commitments by enabling it to finance green economy projects across the commercial, public and residential sectors.

GEFF focuses on mobilising long-term financing to Türkiye’s private sector via partner financial institutions to support investments in energy efficiency, renewable energy, climate resilience and green technology, thereby helping to drive the country’s transition to a low-carbon, sustainable economy.

Burgan Bank Türkiye provides services through its 28 branches across 13 industrial and trade regions of Türkiye to its wide customer base in corporate, commercial and digital banking.

Oksana Yavorskaya, the EBRD’s Deputy Head of Türkiye, said: "This transaction underscores our awareness for the need of green financing, and our commitment to advancing Türkiye’s green transition. We are pleased to partner with Burgan Bank Türkiye in pursuit of these goals and confident that the financing distributed through its network will significantly support the country’s climate ambitions and sustainable growth."

Burgan Bank Türkiye Chief Executive Officer, Murat Dinç, commented: “We are pleased to have signed a €25 million, five-year financing agreement with the EBRD. This agreement, executed under the EBRD’s GEFF, represents our bank’s first green financing from an international financial institution. With these funds we will support companies focused on green projects, including energy efficiency and renewable energy initiatives. The funds will also contribute to the growth and diversification of our customer portfolio. Our partnership with the EBRD reflects our strong commitment to promoting the green economy and financing green investments. We remain dedicated to accelerating our country’s transition to a green economy and providing financing for the real sector’s green-linked sustainable projects.”

The EBRD is one of Türkiye’s key investors, with more than €22 billion committed through 499 projects and trade finance limits since 2009, largely in the private sector.