EBRD support to boost growth for Türkiye’s Sanmar

• EBRD’s €22.5 million loan is part of a €45 million financing package arranged by Akbank for Sanmar
• Financing to support construction and delivery of fully electric tugboats
• Investment includes installation of a 5 MW solar power plant for own consumption

The European Bank for Reconstruction and Development (EBRD) is providing €22.5 million to Sanmar Denizcilik Makina ve Ticaret (Sanmar), one of the world’s leading tugboat manufacturers, to support the company's growth and green transition.

The financing comes as part of a risk-sharing facility between the EBRD and Akbank, strengthening the two institutions’ partnership in supporting sustainable investment and industrial development in Türkiye, with a particular focus on small and medium-sized enterprises (SMEs) and mid-cap companies.

The proceeds will help Sanmar to meet working capital requirements as it expands production and delivery of fully electric tugboats, supporting the company’s growth in an increasingly decarbonised maritime sector. The overall financing package amounts to €45 million, including a €5 million uncommitted tranche to support the installation of a 5 MW solar photovoltaic power plant for Sanmar’s own electricity consumption.

Founded in 1976, Sanmar is a pioneering Turkish shipbuilder with a long track record of innovation in the maritime sector. The company has delivered several global industry firsts, including the world's first liquefied natural gas (LNG)-fuelled tugboats, the world's first remotely operated commercial vessel, Europe’s first electric tugboat, the world’s first methanol-fuelled tugboats and the world’s first transverse tugboat.

İdil Gürsel, EBRD Deputy Head of Türkiye, said: “Türkiye continues to demonstrate its strength as a centre for industrial innovation and green investment. Through our partnership with Sanmar and Akbank, we are supporting the development of cutting-edge electric maritime technologies while helping to advance the decarbonisation of the shipping sector. This project combines competitiveness, innovation and climate action, fully reflecting the EBRD’s priorities in Türkiye.”

Ali Gürün, Chairman of the Board of Sanmar, said: “Sanmar’s long-standing environmental, social and governance commitment has enabled us to meet the high standards required for this important financing partnership with the EBRD and Akbank. This support will further strengthen our investment in sustainable shipbuilding and accelerate our contribution to the maritime industry’s transition towards a cleaner, low-carbon future.”

Akbank Executive Vice President of Commercial Banking Özlem Atik said: “At Akbank, we attach great importance to facilitating our customers’ access to the financing they need throughout their growth and investment journeys, and to leveraging our strong partnerships with international financial institutions for the benefit of the real economy. The €45 million financing we have provided to Sanmar Denizcilik, one of the leading players in the maritime sector, together with the EBRD, is an important example of this approach. Going forward, we will continue to develop financing solutions that support our customers’ competitiveness and sustainable growth.”

The project supports the decarbonisation of maritime transport by enabling the production and delivery of zero-direct-emission electric tugboats. According to project assessments, each vessel is expected to reduce greenhouse gas emissions by approximately 1,800 tonnes of CO₂ equivalent annually compared with conventional diesel-powered alternatives. The solar power installation is expected to avoid a further 2,600 tonnes of CO₂ emissions annually. 

The EBRD is one of Türkiye’s key investors, with more than €26 billion committed since 2009, largely in the private sector.