Translated version of this PSD: Turkish
The EBRD is considering a EUR 400 million framework operation (TurSEFF III) for on-lending to several participating financial institutions in Turkey to finance private and public sector subborrowers investing in small scale renewable energy and resource efficiency projects. TurSEFF III will be the third phase of the TurSEFF framework and builds on the successful implementation of the first two phases. Under the third phase of TurSEFF, the operations will also be expanded to northern Cyprus. The programme in northern Cyprus will be implemented under a different name and will focus entirely on financing of SMEs (hence will not extend financing to public sector sub-borrowers).
Since the launch of TurSEFF's first phase in 2010, the EBRD has provided over EUR 400 million in loans through partner banks to more than 800 sub-projects.
When first launched in 2010, the objective of TurSEFF was to create a market for energy efficiency and renewable energy financing. TurSEFF III builds on success of the first two phases and now aims to i) further increase financial intermediation for resource efficiency and renewable energy
investments , ii) include public sector investments as well as leasing companies in the programme and iii) further improve the financial insitutions`skills in recognising and assessing a wider range of sustainable energy projects.
Targeting the public sector in Turkey for the first time through a credit line and extending financing to leasing companies is expected to facilitate financing in areas previously not covered by TurSEFF or a similar facility in Turkey.
The project will generate transition impact by demonstrating the benefits of energy conservation and promoting the expansion of resource efficiency investments in the energy intensive Turkish economy among Turkish SMEs while providing financing and technical assistance for implementing such projects. The TurSEFF III framework will facilitate comprehensive investments in sustainable energy and resource efficiency, thus catalysing an increase in the power generated from renewable sources, reducing fossil fuel imports as well as the overall GHG emissions in Turkey. The project is also expected to transfer and build expertise, among both participating financial institutions and companies, related to resource efficiency and renewable energy investments.
Target clients for TurSEFF III are commercial banks and leasing companies in Turkey and northern Cyprus with extensive outreach into the SME segment operating in the industrial and municipal sector.
EBRD Finance Summary
TurSEFF III framework in the amount of up to EUR 400 million.
Total Project Cost
EUR 400 million
Environmental and Social Summary
Categorised FI. Under the facility, all participating financial institutions, commercial banks and leasing companies will be required to comply with the EBRD's performance requirements 2, 4 and 9; adopt appropriate environmental and social risk management procedures relevant to their lending activities; and comply with the environmental and social eligibility criteria for resource efficiency and renewable energy projects.
TurSEFF III will be supported by a technical cooperation programme funded by the European Union under the actions entitled: (i)"Enhancement of Turkish Energy Sector in line with EU Energy Strategies" and (subject to donor approval) (ii) "Private Sector Support Facility for Turkey".
Additionally, a technical cooperation package for the implementation of the programme in northern Cyprus will be funded by "EU SME Competitiveness Integrated Finance Facility in the Turkish Cypriot Community".
Company Contact Information
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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Text of the PIP
Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. 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 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 how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.