EBRD and QNB Leasing support resilience and earthquake recovery

• EBRD providing up to €50 million of financing to QNB Leasing
• At least 30 per cent of funds earmarked for green investment in regions affected by 2023 earthquakes
• Project taking place under Türkiye GEFF III programme

The European Bank for Reconstruction and Development (EBRD) is supporting green investment in Türkiye by providing financing of up to €50 million to QNB Leasing under the Türkiye Green Economy Financing Facility III (GEFF III).

The financing package, which consists of up to €47 million of EBRD funding and a concessional loan of up to €3 million from the TaiwanICDF, is designed to address affordability barriers in regions affected by the devastating earthquakes of February 2023 and facilitate long‑term green investment in the places where it is needed most.

At least 30 per cent of the facility will be dedicated to green investment in earthquake-affected regions, supporting reconstruction and recovery by helping local enterprises to rebuild in a way that is more resilient, efficient and sustainable.

Türkiye GEFF III is a €1 billion programme supporting green investment through qualifying private-sector partner financial institutions, with up to €300 million allocated to partner banks that commit to on-lending to sub-borrowers affected by the February 2023 earthquakes.

QNB Leasing will lend the funds on to small and medium-sized enterprises (SMEs) and other private-sector clients that are investing in climate-resilient and environmentally sustainable projects. Eligible investments include energy efficiency, renewable energy, sustainable agriculture, green buildings and other green economy solutions aligned with the EBRD’s Green Economy Transition Strategy.

The EBRD’s Deputy Head of Türkiye, Oksana Yavorskaya, said: “Through this financing, the EBRD is supporting not only Türkiye’s green transition, but also the long-term recovery of regions affected by the 2023 earthquakes. We are helping QNB Leasing to extend green loans to areas where reconstruction needs are significant and access to affordable finance remains limited.”

QNB Leasing’s General Manager, Osman Taş, said: “We are pleased to be working with the EBRD on this financing facility, which supports both Türkiye’s green transition and the recovery of regions affected by the 2023 earthquakes. The financing will help to expand access to funding for energy efficiency, renewable energy and sustainable transformation projects, particularly for SMEs. We will also help businesses in earthquake-affected regions to rebuild in a more resilient and sustainable way. We at QNB Leasing will continue to expand our sustainable financing solutions in support of the green transition.”

QNB Leasing is a longstanding client of the EBRD with a strong track record of successfully conducting green transition projects. QNB Leasing offers both sectoral expertise and the operational capacity needed to accelerate climate-related financing, including in earthquake-affected regions.

The EBRD is one of Türkiye’s key investors, with more than €24.4 billion committed across the country since 2009, largely in the private sector.