EBRD teams up with Garanti BBVA Leasing to foster resilience

• EBRD providing €50 million financing package to Garanti BBVA Leasing
• Support being provided under Türkiye Green Economy Financing Facility III programme
• Financing includes focus on businesses impacted by earthquakes of February 2023

The European Bank for Reconstruction and Development (EBRD) is providing a €50 million financing package to Garanti BBVA Leasing to support the resilience of businesses in Türkiye by facilitating access to green, resource efficient and climate resilient technologies.

€47 million of the financing package will come from the EBRD, while the remaining €3 million is being supplied by the TaiwanICDF to address affordability barriers and enable long‑term green investment to reach the places where it is needed most.

The package, which is being provided under the Türkiye Green Economy Financing Facility III (GEFF III) programme, will help businesses to invest in measures that reduce energy consumption, cut emissions and enhance operational continuity in the face of climate and economic shocks.

Garanti BBVA Leasing is one of Türkiye’s leading leasing companies, with several branches in the regions that were worst affected by the earthquakes of February 2023.

At least 30 per cent of this financing will be used to support green investment in earthquake-affected regions, helping local enterprises to rebuild in a way that is more resilient, efficient and sustainable.

Oksana Yavorskaya, the EBRD’s Deputy Head of Türkiye, welcomed the transaction, saying: “This project demonstrates our strong partnership with Garanti BBVA Leasing. By combining green finance with targeted support for earthquake‑hit regions, we are helping businesses to rebuild more sustainably while expanding access to climate‑friendly technologies. This facility will empower companies across Türkiye to invest in a cleaner, more resilient future.”

Garanti BBVA Leasing’s General Manager, Orhan Veli Çaycı, said: “Sustainability is a strategic priority for Garanti BBVA and an integral part of our business model. As a key subsidiary of Garanti BBVA, Garanti BBVA Leasing plays an important role in providing sustainable finance solutions to the real economy and supporting our customers’ transition journeys. We are delighted to be further strengthening our longstanding partnership with the EBRD through the GEFF III programme. By facilitating investments in green and resource-efficient technologies, this financing will support businesses in their transition to a low-carbon economy while enhancing their resilience to future challenges. We are especially pleased that the facility will contribute to the recovery and sustainable development of earthquake-affected regions. We remain committed to supporting Türkiye’s green transformation and sustainable growth.”

As part of the project, Garanti BBVA Leasing will also implement gender focused measures and training programmes, which will help end borrowers to develop green skills, improve their technical capacity and access new technologies.

The EBRD is one of Türkiye’s key investors, with more than €23 billion committed in the country since 2009, largely in the private sector.