EBRD loan to AKLease supports green financing

December 5, 2024 by The Sting's Team Leave a Comment

This article is brought to you in association with EBRD.

€50 million loan supports green investment projects
Loan issued under EBRD’s Türkiye GEFF II programme
Proceeds will help to finance sustainability initiatives, including energy efficiency measures

The European Bank for Reconstruction and Development (EBRD) is providing a €50 million loan to Türkiye’s AKLease, a longstanding partner in the country, for on-lending to sub-borrowers implementing green investments such as energy efficiency, renewable energy and climate resilience measures.

With this loan, AKLease (a fully owned subsidiary of Akbank) will continue to fund sub-borrowers under its ECOLease product – a dedicated green product that supports companies seeking financing for investments in renewable energy, resource efficiency, waste management and water conservation projects.

The loan to AKLease is being issued under the EBRD’s Türkiye Green Economy Financing Facility II (GEFF II), which aims to build on the success of the previous facility by contributing to the deployment of green finance in Türkiye. Under that framework, €750 million of EBRD financing will be provided to eligible private financial institutions in the country for on-lending to sub-borrowers implementing green investments.

The EBRD’s Deputy Head of Türkiye, Oksana Yavorskaya, said: “Leasing companies can serve a great purpose by creating alternatives for firms looking for green investments. We are delighted to be expanding and diversifying green financing opportunities in Türkiye, leveraging our longstanding partnership with AKLease to ensure the effective and impactful distribution of these funds.”

AKLease General Manager Eser Okyay, evaluating the agreement, stated: “As AKLease, we are proud to continuously expand our support for green projects day by day. To date, we have signed numerous green financing agreements with the EBRD. With this new agreement, we will further amplify this positive impact, contribute to our customers’ sustainable investments, and support our country’s green transformation process.”

AKLease will use the proceeds to finance a wide range of investments (including gender-responsive measures) in areas such as nature and biodiversity, the blue economy, renewable energy and energy efficiency.

The EBRD is one of Türkiye’s key investors, with more than €21 billion committed through 461 projects and trade finance limits since 2009, most of it in the private sector.

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