TurSEFF F/W ext I

Location:

Turkey

Project number:

44446

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

26 Mar 2013

Status:

Board Approved

PSD disclosed:

22 Feb 2013

Sub-projects signed under this framework

Translated version of this PSD: Turkish

Project Description

Following the successful implementation of TurSEFF (Turkish Sustainable Energy Finance Facility) launched in July 2010 reaching a total amount of approx. USD 284.2 million including credit lines to five participating banks, in July 2013 the EBRD launched an extension of the Facility (“TurSEFF Extension-I”) in an amount of USD 200 million which was subsequently increased to USD 265 million. Under TurSEFF Extension-I, the EBRD provided financing to four participating banks in Turkey, again for on-lending to private sector borrowers (SMEs) for energy efficiency and small-scale renewable investments.

In order to meet growing demand for sustainable energy finance in Turkey, the EBRD further increased the Facility amount from USD 265 million to USD 315 million in March 2015.


Transition Impact

The Project will generate transition impact by demonstrating the benefits of energy conservation and promoting the expansion of energy efficiency investments in the energy intensive Turkish economy among Turkish SMEs while providing financing and technical assistance for implementing such projects.

The Project is also expected to transfer and build expertise, among both financial institutions and companies, related to energy efficiency and renewable energy investments.


The Client

Clients of TurSEFF Extension-I are commercial banks in Turkey selected among leading banks with extensive outreach to the industrial and SME segment and also institutional capacity and commitment to successfully establish a business line in energy efficiency financing as one of their key priority areas. Some of the banks that participated in the first phase of TurSEFF were also part of the extension and also a new bank decided to join TurSEFF Extension-I. It is expected that other commercial banks will join as new participating banks in 2015.


EBRD Finance

Under TurSEFF Extension-I, funds are provided by the EBRD to participating banks as either secured or unsecured credit lines.


Project Cost

TurSEFF Extension-I USD 315 million.


Environmental Impact

Categorised FI. All participating banks are required to comply with the requirements of EBRD’s Performance Requirement (PR) 2 on Labour and Working Conditions. All sub-loans under the credit lines will need to comply with the requirements of PR9. Sub-borrowers financed through the credit lines will be required to comply with national requirements for environment, health and safety and labour standards. All participating banks will provide annual environmental and social reports to the EBRD.


Technical Cooperation

In line with the technical assistance (‘TA’) programme provided to participating banks and sub-borrowers in TurSEFF, TurSEFF Extension-I will also provide project preparation support to sub-borrowers and build the capacity of participating banks to assess and finance sustainable energy investments. Funding for the TA is provided by the EU from funds remaining under the allocation for the EU/EBRD SME Finance Facility (2006 sub-account) and from the EU IPA 2013 agreement for enhancement of the Turkish Energy Sector.


Company Contact

Aynur Dincer
E-mail: dincera@ebrd.com

 

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