Turkiye GEFF III - BNP Paribas Finansal Kiralama

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

A senior unsecured loan of up to EUR 25 million consisting of EUR 23.5 million EBRD financing and EUR 1.5 million in concessional finance component to be provided by TaiwanICDF in favour of BNP Paribas Finansal Kiralama A.S. (the ''Company"). The project will enable the Company to finance sub-borrowers implementing green economy investments and promote equal access to green finance for both women and men. Under this operation, the Company will use 30% of the financing to support green investments in the regions affected by the February 2023 earthquakes of Türkiye ("Affected Regions") and the operation is therefore complemented by concessional finance.

Project ID 56485

Status Disbursing

Location

Türkiye

Industry Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Melike Urus
melike.urus@tr.bnpparibas.com
+90212-318 42 00
+90216-636 52 89
https://leasingsolutions.bnpparibas.com.tr/
Gayrettepe Mah. Yener Sok No:1 Kat:2-3 Besiktas Istanbul

Project ID 56485

Status Disbursing

Location

Türkiye

Industry Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

20 Jan 2026

Disclosure date

20 May 2026

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

Project Objectives

The loan will be used by the Company for on-lending to eligible sub-borrowers, including in the Affected Regions implementing GET-aligned green investments including among others energy efficiency, renewable energy and climate resilience measures, including sustainable agriculture, nature and biodiversity, as well as sustainable transport and tourism, while promoting equal access to green finance for both women and men.

Transition Impact

ETI score: 63

Transition impact of the project is expected to derive from the Green and Inclusive qualities of Türkiye GEFF III ("Framework").

Green: The Framework and the project will promote the transition to environmentally sustainable, low-carbon and climate-resilient economy in Türkiye, preventing the economy from being locked into carbon-intensive, climate-vulnerable and/or environmentally damaging polluting pathways, with 100 per cent use of proceeds confirmed as GET.

Inclusive: The Framework and the project will have a special focus on the region of the country affected by the February 2023 earthquakes, particularly in relation to the long-term green recovery and reconstruction efforts. This window will support on-lending to sub-borrowers in the earthquake affected regions for investments in green technologies and services such as energy efficiency, renewable energy, green buildings, and related working capital, promoting a sustainable recovery.

Client Information

BNP PARIBAS FINANSAL KIRALAMA AS

BNP Paribas Finansal Kiralama A.S. is a privately-owned leasing company incorporated in Türkiye with total assets of EUR 418m (3.9% market share, 9th largest company in the sector) as of YE25. BNP Paribas Finansal Kiralama A.S. was formed by a merger between Fortis Finansal Kiralama A.S. and TEB Finansal Kiralama A.S. in July 2011 following a cooperation agreement between BNP Paribas Leasing Solutions S.A. ("BNPPL") and TEB Leasing signed in 2005 and acquisition of Fortis Finansal Kiralama A.S. by BNPPL in 2009. BNP Paribas S.A. ("BNPP") is the ultimate majority shareholder holding 95.48% of the capital through BNPPL, a subsidiary of BNPP carrying out leasing activities worldwide. The remaining 4.52% of the share capital belongs to Türk Ekonomi Bankasi A.S ("TEB"), an existing EBRD partner bank, which is 72.5% owned by BNPP.

EBRD Finance Summary

EUR 23,500,000.00

Total Project Cost

EUR 25,000,000.00

Additionality

Key sources of additionality under the project are:

(i) Financing structure (Crisis response: EBRD financing effectively bridges a financing gap due to adverse market conditions); and

(ii) Standard-setting: helping projects and clients achieve higher standards (Company seeks/makes use of EBRD expertise for the adoption of gender standards and/or equal opportunities action plans).

Environmental and Social Summary

Categorised FI (ESP 2024). BNPFK is an existing client of the EBRD. The client is currently meeting the EBRD's Environmental and Social Requirements (ESRs) 2, 4, and 9 under its existing EBRD exposures. Eligible sub-projects will provide green economy financing with a focus on addressing barriers to finance for women-led businesses, especially for the affected regions by the earthquakes of February 2023, which are likely to be of low to medium environmental and social risk. The main E&S risks relate to the client's capacity to implement its Environmental and Social Management System (ESMS) and related supply chain risks, labour and occupational health and safety issues. E&S due diligence has been undertaken through a review of the most recent annual E&S report, and publicly available information of BNP Paribas - the parent company. BNPFK has an Environmental and Social Management System (ESMS), which is considered commensurate with the risk profile of the eligible subprojects.

BNPFK is expected to maintain its ESMS to effectively assess, manage, and monitor E&S risks and impacts, in line with the EBRD's Environmental and Social Requirements (ESRs) 2, 4, and 9 under the ESP (2024). This includes compliance with the EBRD's E&S exclusion list and alignment with relevant EBRD guidance for financial institutions, and submission of annual E&S reports to the EBRD. Sub-borrowers financed by the client must comply with applicable national environmental, social, health, safety, and labour laws. BNP Paribas publicly discloses information on the Group ESMS, which is effectively cascaded and implemented by BNPFK.

If the EBRD's funding is used for renewable energy sub-projects, these must meet the EBRD's E&S eligibility criteria for renewables, as well as any other requirements outlined in the Türkiye GEFF III Policy Statement.

Technical Cooperation and Grant Financing

The GEFF III and this project will be supported by a TC package for the engagement of the Facility Consultant (FC), responsible for providing limited support for the implementation, monitoring and verification activities under the Facility.Funding source: CIF, EBRD Shareholder Special Fund.

Company Contact Information

Melike Urus
melike.urus@tr.bnpparibas.com
+90212-318 42 00
+90216-636 52 89
https://leasingsolutions.bnpparibas.com.tr/
Gayrettepe Mah. Yener Sok No:1 Kat:2-3 Besiktas Istanbul

PSD Last Updated

20 May 2026

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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Turkiye GEFF III - BNP Paribas Finansal Kiralama

Overview

Project timeline

Company Contact Information

Project Description

Project Objectives

Transition Impact

Client Information

EBRD Finance Summary

Total Project Cost

Additionality

Technical Cooperation and Grant Financing

Company Contact Information

PSD Last Updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)