The European Bank for Reconstruction and Development (EBRD) has approved a €25 million loan to GarantiBBVA Leasing under the Green Economy Financing Facility (GEFF) Türkiye framework.
This senior unsecured loan, available in euros or US dollars, will support GarantiBBVA Leasing in expanding its financing of environmentally sustainable projects across Türkiye. The loan aims to advance the green economy through investments in energy efficiency, renewable energy, and climate resilience initiatives.
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Building on previous successes, the loan allows GarantiBBVA Leasing to continue its focus on green and sustainable investments, strengthening its financial offerings for both women-led and men-led businesses.
This facility follows earlier lines provided under the Turkish Sustainable Energy Financing Facility (TurSEFF) in 2017 and 2021, as well as a GEFF line granted in 2023.
The initiative aligns with EBRD’s objectives to promote environmentally sustainable economies. The project has a high Environmental Transition Impact (ETI) score of 70, underscoring its potential to drive a well-governed, low-carbon economy.
Additionally, the facility includes a specialised window for corporate climate governance under GEFF Türkiye, although GarantiBBVA Leasing will operate under a non-governance-specific window.
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By GlobalDataThe loan is categorised under the EBRD’s Environmental and Social Policy (ESP) framework, requiring GL to maintain stringent environmental and social standards. To comply, GarantiBBVA Leasing will assess and monitor environmental and social risks, submitting regular reports to the EBRD. The financing of projects, such as solar power initiatives, will follow EBRD’s supply chain risk management protocols.
This project will receive technical support and potential grant funding from sources including the Clean Technology Fund, the Türkiye-EBRD Cooperation Fund, and bilateral donors. The assistance will involve project monitoring and policy advisory services to enhance EBRD’s sustainable investment objectives.
The project marks an ongoing effort by the EBRD and GarantiBBVA Leasing to support green initiatives that align with Türkiye’s climate targets, leveraging innovative financial structures to strengthen climate resilience across the private sector.
GarantiBBVA Leasing is a wholly-owned subsidiary of Garanti BBVA, which is majority-owned by the Spanish banking group Banco Bilbao Vizcaya Argentaria S.A. (BBVA), holding an 85.97% stake.
