EBRD backs green investment and earthquake recovery through İş Leasing

• EBRD provides up to €100 million to İş Leasing under GEFF III
• Financing will support businesses investing in green technologies
• At least 30 per cent of financing will be directed to regions affected by the 2023 earthquakes

The European Bank for Reconstruction and Development (EBRD) is providing a financing package of up to €100 million to İş Finansal Kiralama (İş Leasing) to finance green investment by businesses across Türkiye, with a focus on earthquake-affected regions.

The financing comprises up to €94 million from the EBRD and up to €6 million of concessional funding from the Clean Technology Fund (CTF), part of the Climate Investment Funds (CIF).

The loan is extended under the EBRD’s Türkiye Green Economy Financing Facility III (GEFF III), which supports energy and resource efficiency, renewable energy, climate resilience and other green investments. Since launching the Türkiye Sustainable Energy Financing Facility (TurSEFF) in 2010, the EBRD has expanded its support through other sustainable energy facilities and successive GEFFs. Together, these facilities have channelled over €3.3 billion in EBRD green finance through Turkish banks and leasing companies, supporting more than 13,350 projects and reaching thousands of companies and close to 4,000 households. The renewable energy capacity financed through these facilities now accounts for 5 per cent of Türkiye’s renewable energy.

The project also seeks to broaden women’s access to green finance. At least 30 per cent of the financing will be allocated to businesses operating in the regions affected by the 2023 earthquakes, helping to transform disaster recovery into a long-term opportunity for climate-aligned regeneration.

Established in 1988, İş Leasing is Türkiye’s second-largest leasing provider. It is a subsidiary of İşbank, Türkiye’s largest private-sector bank.

This is the EBRD’s second financing partnership with İş Leasing, following the successful implementation of a TurSEFF green credit line signed in 2021. The partnership will expand access to green finance across Türkiye, while İş Leasing’s leading position in construction machinery leasing makes it well placed to support reconstruction in earthquake-affected regions.

Elisabetta Falcetti, EBRD Managing Director for Türkiye and the Caucasus, said: “Building on our successful cooperation with İş Leasing, this financing will help more businesses participate in Türkiye’s green transition. It will also support long-term recovery in earthquake-affected regions, helping businesses rebuild for a more resilient future.”

Şafak Öğün, General Manager of İş Leasing, commented: “We are pleased to sign this agreement with the EBRD. Through the GEFF programme, we aim to help businesses affected by the 2023 earthquakes and facilitate access to financing for companies across all sectors – particularly small and medium-sized enterprises and women entrepreneurs – to invest in renewable energy, energy efficiency, climate action and water management. Combined with the EBRD’s technical assistance and advisory services, this will help our customers to grow and move towards more sustainable and resilient business models.”

The EBRD is a leading institutional investor in Türkiye, having invested more than €26 billion in the country since 2009, largely in the private sector.