- EBRD provides €25 million to AKLease
- Loan comes under the Bank’s GEFF framework
- AKLease to on-lend to borrowers for green investments
The loan is part of the Bank’s Green Economy Financing Facility (GEFF), which seeks to accelerate the green transition in the economies where it invests by supporting businesses willing to invest in green and sustainable projects.
The proceeds of the loan will be used to provide lease financing to sub-borrowers implementing a variety of green economy investments, including energy efficiency, renewable energy and climate resilience measures.
AKLease is a leader in its field. One of its focus areas is financing sustainable projects. Back in 2021, it became the first leasing company in the country to launch a dedicated green product for companies seeking funding for investments in renewable energy, resource efficiency, waste management and water conservation projects. An existing EBRD client, the current facility will allow the company to expand its green portfolio.
Türkiye remains heavily dependent on high-carbon operations, and has set a target of 2053 to become a net zero economy. The EBRD is committed to expanding financing opportunities for the country’s private sector, which plays a crucial role in ensuring a greener, more climate-resilient economy.
To date, the EBRD has invested more than €18 billion in various sectors of the Turkish economy, largely in the private sector.