EBRD Provides 50 Million For Energy Efficiency Investments By Turkish SMEs

The European Bank for Reconstruction and Development (EBRD) has extended a loan of EUR 50 million (USD 58.2m) equivalent in Turkish lira to support energy efficiency investments, including in small-scale renewable energy systems, by small and medium-sized enterprises (SMEs) in Turkey.

The loan, announced on Friday, has been granted to Turkish leasing finance company Garanti Finansal Kiralama AS, also known as Garanti Leasing, and will be used for on-lending to SMEs to finance projects such as energy efficiency, water efficiency, waste minimisation and small-scale renewables.

It is being provided as part of the third phase of the Turkey Sustainable Energy Financing Facility (TurSEFF III), under which EUR 400 million is available to commercial banks and leasing companies for on-lending to help SMEs and public sector entities make sustainable energy investments.