EBRD and Türkiye’s TEB join forces in €100 million sustainability push

• EBRD provides €100 million loan to Türk Ekonomi Bankası
• Project under Green Economy Financing Facility II to enhance climate finance in Türkiye
• Financing marks TEB’s first green transaction with the EBRD

The European Bank for Reconstruction and Development (EBRD) is lending €100 million to Türk Ekonomi Bankası (TEB) to support green investments in Türkiye. 

The financing, which comes under the EBRD’s Green Economy Financing Facility II (GEFF II), will support on-lending to sub-borrowers investing in green economy projects.

It marks the first green-focused transaction in a longstanding relationship between TEB and the EBRD. The transaction also builds on the EBRD’s strategic objective of supporting the transformation of the financial sector to lead the transition to green, low-carbon economies. GEFF programmes work towards that goal by expanding financial opportunities for climate investments, supporting the provision of financing through local partner banks to help businesses improve energy efficiency, adopt renewable energy technologies and reduce carbon emissions.

TEB has approximately 440 branches and 8,000 employees in Türkiye, providing banking services to retail, commercial and corporate clients, as well as to small and medium-sized enterprises.

Oksana Yavorskaya, the EBRD’s Deputy Head of Türkiye, welcomed the loan, saying: “Supporting TEB’s commitment to sustainable and inclusive finance in Türkiye reflects our shared vision of building a resilient financial ecosystem that serves both people and the planet. We’re proud to support TEB as it expands sustainable financing in Türkiye.”

Ömer Yenidoğan, TEB Corporate and Corporate Investment Banking Assistant General Manager, said: “We believe the financial sector plays a pivotal role in accelerating the transition to a low-carbon and inclusive economy. This facility represents our continued commitment to supporting our clients’ green transformation by providing targeted and impactful financing solutions. We are pleased to further advance sustainable finance in Türkiye through our collaboration with the EBRD.”

The EBRD is one of Türkiye’s key investors, with more than €23 billion committed through 500 projects and trade finance limits since 2009, largely in the private sector.