EBRD Grants €25 Million Loan to Enhance Green Investments in Turkey

QNB Finansleasing, a financial leasing company in Turkey, has obtained a EUR 25 million (USD 27.3 million) loan from the European Bank for Reconstruction and Development (EBRD) to assist sub-borrowers in implementing investments focused on the green economy, including energy efficiency, renewable energy, and climate resilience projects.

“The EBRD is dedicated to accelerating Türkiye’s green transition and partnering with financial institutions to provide the tools essential to achieving the country’s climate goals,” Oksana Yavorskaya, EBRD’s deputy head of Turkey, noted in a statement published Wednesday. 

To meet its 2053 net-zero target, Turkey must invest approximately USD 10 billion annually until 2030. This loan to QNB Finansleasing is part of the Türkiye Green Economy Financing Facility II (GEFF II).

QNB Finansleasing has financed nearly 500 MW of renewable energy projects to date.

“Our new loan agreement with the EBRD underscores our commitment to the green transition and further solidifies our leadership in the sector with sustainable financial solutions,” QNB Finansleasing’s general manager Osman Tas noted.