The European Bank for Reconstruction and Development (EBRD) will provide a EUR 25m loan to the France-based BNP Paribas Turkish leasing arm BNP Paribas Finansal Kiralama AS, according to a statement from the EBRD.
The amount will be channeled to SMEs as well as companies that operate in the public sector for equipment investments to achieve energy and water efficiency, waste minimization, and for implementing small-scale renewable energy projects.
This new loan has been distributed under the third phase of the Turkey Sustainable Energy Financing Facility (TurSEFF), backed by the European Union and the Turkish Ministry of Treasury and Finance. The TurSEFF program has provided EUR 719m in total to commercial banks and leasing companies to lend to more than 2,200 SMEs in the private sector sectors to be put towards sustainable energy investments.
The EBRD has invested more than EUR 15bn in Turkey via 367 projects, the majority of which have been in the private sector.
