TuranBank, one of Azerbaijan's leading financial institutions,
has introduced a new financing solution as part of its commitment
to sustainable development and the green economy. Under the
strategic cooperation agreement signed with the Energy Regulatory
Agency (EMTA) in April this year, the Bank has commenced the
issuance of preferential loans financed by the Energy Efficiency
Fund.
Following the successful completion of the legal and
institutional preparations in April, the financing mechanism is now
fully operational and available to both individual and corporate
customers. The loans are designed to promote the efficient use of
energy resources, encourage the adoption of modern energy-saving
technologies, and support environmentally friendly green projects
across the country.
Through this initiative, TuranBank provides customers with
accessible financing to reduce energy costs, improve resource
efficiency, and invest in energy-efficient solutions for both
business operations and households. The preferential loan terms
have been tailored to meet the practical needs of individual
entrepreneurs, small and medium-sized enterprises (SMEs), as well
as individuals seeking to implement energy-saving technologies.
The partnership established with EMTA contributes to
Azerbaijan's sustainable economic development, environmental
protection, and the successful implementation of the country's
national energy efficiency strategy. The launch of these loans
represents another milestone in TuranBank's commitment to
environmental and social responsibility and reflects the Bank's
continued efforts to advance green banking practices.
The Energy Efficiency Fund was established by the Decree of the
President of the Republic of Azerbaijan, Ilham Aliyev, dated March
1, 2024. The Fund is administered by the Energy Regulatory Agency
(EMTA). EMTA was established as a public legal entity under the
Ministry of Energy by the Presidential Decree of December 22,
2017.
Operating since 1992, TuranBank serves individual and corporate
clients through its 22 points of sale. Detailed information about
the new service provided by the Bank can be obtained by visiting
its official website or following its social media pages (Facebook,
Instagram, etc.).
