The European Bank for Reconstruction and Development (EBRD) has granted a €50m ($52.8m) loan to AKLease, a Turkish leasing company fully owned by Akbank.
The loan is intended for sub-borrowers focusing on green investments, including energy efficiency, renewable energy, and climate resilience measures.
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AKLease will utilise the loan to continue funding sub-borrowers through ECOLease, its dedicated green financing solution that targets investments in renewable energy, resource efficiency, waste management, and water conservation.
AKLease general manager Eser Okyay stated: “As AKLease, we are proud to continuously expand our support for green projects day by day. To date, we have signed numerous green financing agreements with the EBRD.
“With this new agreement, we will further amplify this positive impact, contribute to our customers’ sustainable investments, and support our country’s green transformation process.”
This loan falls under the EBRD’s Türkiye Green Economy Financing Facility II (GEFF II), designed to bolster the deployment of green finance in Türkiye.
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By GlobalDataUnder this initiative, the EBRD is offering a total of €750m to eligible private financial institutions for onward lending to businesses pursuing green projects.
The funds obtained by AKLease will be directed towards a diverse range of investments, including gender-responsive measures, in areas such as nature and biodiversity, the blue economy, renewable energy, and energy efficiency.
EBRD has been a significant investor in Türkiye, committing more than €21bn through 461 projects and trade finance limits since 2009, with a majority of the investments directed towards the private sector.
EBRD Türkiye deputy head Oksana Yavorskaya said: “Leasing companies can serve a great purpose by creating alternatives for firms looking for green investments.
“We are delighted to be expanding and diversifying green financing opportunities in Türkiye, leveraging our longstanding partnership with AKLease to ensure the effective and impactful distribution of these funds.”
