EBRD, Garanti BBVA sign $25 million facility for SMEs
As part of its commitment to Turkey’s green transformation, Garanti BBVA Leasing and the European Bank for Reconstruction and Development (EBRD) are offering $25 million in loans to eligible companies looking to invest in sustainability.
The new loan facility is part of the third phase of the Turkish Sustainable Energy Financing Programme (TurSEFF), supported by contributions from the European Union and funds from the Ministry of Treasury and Finance of the Republic of Turkey.
Garanti BBVA Leasing plays an active role in energy investments in line with the BBVA Group’s sustainability strategy, and has more than 30 years of experience in machinery and equipment investment financing to the energy sector. To this date, Garanti Leasing has provided more than $180 million in financing for solar installations and increased Garanti’s market share in renewable energy investments to 17 percent.
Garanti BBVA Leasing General Manager Selahattin Güldü said that renewable energy and green energy will be Garanti BBVA Leasing's priority in the coming period. “TurSEFF III will be used to finance numerous energy saving projects for SMEs in our country. With our SME-oriented strategy and wide customer base throughout the country, we are always moving towards the goal of being a reliable business partner of SMEs,” he added.
The loan provided under the TurSEFF program is a reflection of Garanti BBVA Leasing activities and reaffirms the confidence in the Turkish economy, he added.