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  • 24-11-21

    European Bank for Reconstruction and Development gives Turkey USD25m loan

    (MENAFN) On Monday the European Bank for Reconstruction and Development (EBRD) gave a loan worth of 25USD million to Garanti BBVA Leasing for on-lending to qualified corporations seeking to make investments in better sustainability.

    Based on a statement issued by the European bank, the new funding for the leasing company came after a former EBRD loan worth of 270.5 million Turkish Lira (about USD20.6) which has been completely spent, helping about 600 firms.

    The new loan is extended under the third stage of the Turkish State Sustainable Energy Financing Facility (TurSEFF) supported by technical collaboration backed by the EU along with the country’s Ministry of Treasury and Finance.

    The plan permits funding of €400 million (USD450 million) to commercial banks and leasing firms for on-lending to private sector SMEs and public sector beneficiaries for renewable energy investments.

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