Wednesday 25, July 2018 by Kudakwashe

EBRD loans $30 million to Turkish firm

 

The loan is aimed at supporting SME ventures focused on energy efficiency in Turkey.

  

The European Bank for Reconstruction and Development (EBRD) has provided a loan of $30 million to a leasing company in Turkey for sustainable energy investments, according to local newswire, Anadolu.

EBRD said the financial agreement was signed with QNB Finans Finansal Kiralama, a leasing subsidiary of the Turkish lender QNB Finansbank.

This loan is extended under the third phase of the Turkey Sustainable Energy Financing Facility (TurSEFF III) which provides financing of $450 million to commercial banks and leasing companies for on-lending to private sector SMEs as well as public sector beneficiaries for sustainable energy investments.

Metin Karabiber, General Manager of QNB Finans Leasing, said that the finance agreement is the first partnership between the EBRD and QNB Finans.

Over the past nine years, the EBRD has invested around approximately $12 billion in Turkey financing more than 250 projects and last year EBRD invested $1.8 billion in 51 projects in the country.

 

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