- Loan to expand QNB Finans Leasing’s on-lending for sustainable investments in Türkiye
- SMEs to use funds to increase energy efficiency and small-scale renewables
- EBRD supporting the integration of climate risk factors into Turkey’s financial market
The European Bank for Reconstruction and Development (EBRD) is providing a €25 million loan to QNB Finans Leasing to support sustainable investments in Türkiye. The funds will expand QNB’s lending to private-sector small and medium-sized enterprises (SMEs) for green investments, providing lease financing to companies implementing green economy investments, for example, in energy efficiency and renewables.
EBRD President Odile Renaud-Basso was also present at the signing of the loan agreement.
The loan is being provided under the EBRD’s Green Economy Financing Facility Türkiye (GEFF Türkiye) framework and builds on the success of its predecessor, the Türkiye Sustainable Energy Financing Facility (TurSEFF). This will be the EBRD’s third loan under GEFF Türkiye, launched at the beginning of the year.
The loan also includes a gender-responsive component to support financial access to green investments for women-led businesses, including a technical cooperation package that oversees gender baseline assessments, awareness opportunities and capacity building on gender-specific supply and demand issues.
The EBRD is committed to promoting a sustainable future in Türkiye by expanding green financing in the country. By heavily supporting climate investments in the private sector, the Bank aims to accelerate the country’s transition to a green economy; it is currently carbon-intensive and vulnerable to climate-related risks.
The EBRD is a leading institutional investor in Turkey. It has invested almost €16.8 billion in 381 projects in the country since 2009, mostly in the private sector.
On 1 October, the EBRD changed the way it refers to the country historically known in English as ‘Turkey’ to ‘Türkiye’, in line with other international organisations and a request by the Turkish authorities.