BAKU, Azerbaijan, December 15. The European
Bank for Reconstruction and Development (EBRD) is providing a €100
million loan to Türk Ekonomi Bankası (TEB) to support green
investments across Türkiye, Trend reports via the EBRD.
The financing, extended under the EBRD’s Green Economy Financing
Facility II (GEFF II), will enable TEB to on-lend to sub-borrowers
investing in projects that promote the green economy.
This transaction marks the first green-focused initiative in the
long-standing partnership between TEB and the EBRD. It also aligns
with the bank’s strategic objective of transforming the financial
sector to drive the transition toward green, low-carbon economies.
GEFF programmes facilitate this goal by expanding financial
opportunities for climate-conscious investments, supporting local
partner banks in providing financing to businesses that enhance
energy efficiency, adopt renewable energy technologies, and reduce
carbon emissions.
TEB, with approximately 440 branches and 8,000 employees across
Türkiye, serves retail, commercial, corporate clients, and small
and medium-sized enterprises.
Since 2009, the EBRD has been a key investor in Türkiye,
committing more than €23 billion through 500 projects and trade
finance limits, primarily in the private sector.
