BAKU, Azerbaijan, December 23. The European
Bank for Reconstruction and Development (EBRD) is providing a
100-million-euro loan to Türk Ekonomi Bankası (TEB) to support
green investments in Türkiye, Trend reports via the EBRD.
The financing is provided under the EBRD's Green Economy
Financing Facility (GEFF II) and will be used for on-lending to
sub-borrowers investing in green economy projects.
This deal marks the first green transaction in the long-standing
partnership between TEB and the EBRD. It also aligns with the
EBRD's strategic objective of supporting the transformation of the
financial sector to achieve a sustainable, low-carbon economy. GEFF
programs aim to expand financial opportunities for climate
investments, support the provision of financing through local
partner banks, and help businesses improve energy efficiency,
deploy renewable energy, and reduce carbon emissions.
TEB has approximately 440 branches and 8,000 employees in
Türkiye and provides banking services to retail, commercial, and
corporate clients, as well as small and medium-sized
enterprises.
The EBRD is a key investor in Türkiye: since 2009, the bank has
committed over 23 billion euro through 500 trade finance projects
and programs, primarily in the private sector.
