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FinancialNews
27-11-19
EBRD, CTF grant USD350m funding for efficiency investments in Turkey
(MENAFN) According to an announcement by the European Bank for Reconstruction (EBRD), over 50,000 Turkish households availed of USD350 million in funding energy efficiency in buildings and equipment through a lending program jointly expanded by several clean finance organizations.
The Turkish Residential Energy Efficiency Financing Facility (TuREEFF) was developed by the EBRD, the European Union, and the Clean Technology Fund (CTF) under Climate Investment Funds (CIF).
TuREEFF program led by the EBRD provided up to USD350 million to four local banks: Garanti BBVA, Sekerbank, Turkiye Is Bankasi and Yapi Kredi Bankasi. The funds were then on-lent to households, construction companies and vendors of energy-savings household equipment.
"TuREEFF, developed by the EBRD with funding from the EU and the CTF, has made money available for Turkish families to make that change. I am proud of the role the EBRD has played in pioneering this lending program and congratulate all involved on the results we have delivered together," he said.
MENAFN2711201900450000ID1099333982
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