The European Bank for Reconstruction and Development (EBRD) has approved a senior unsecured loan of up to EUR 25 million for QNB Finans Leasing in Turkiye. The funding, available in either EUR or TRY, is aimed at supporting green economy investments, including energy efficiency, renewable energy, and climate resilience measures under the Turkiye Green Economy Financing Facility II (GEFF II).
QNB Finans Leasing will utilize the proceeds to provide lease financing to sub-borrowers undertaking green economy investments aligned with the GEFF II Framework’s technical eligibility criteria. This includes financing vendors and producers of eligible technologies covered by the Green Technology Selector for Turkiye, as well as supporting sub-borrowers certified according to recognized sustainability certification systems.
The project is expected to have a significant transition impact, with an ETI score of 70. It will promote the transition to an environmentally sustainable, low-carbon, and climate-resilient economy in Turkiye.
QNB Finans Leasing, a subsidiary of QNB Finansbank, is an existing client of the EBRD and ranks as the third-largest leasing company in Turkiye by asset size. The company operates across various sectors, focusing particularly on commercial and SME clients.
The EBRD financing will provide additionality through innovative financing structures and instruments, standard setting, risk mitigation, and medium-term financing to support diversification of the funding base.
Environmental and social considerations are paramount, with QNB Finans Leasing required to comply with EBRD’s Performance Requirements and implement applicable Environmental and Social Risk Management Procedures.
Technical cooperation will support the project through the engagement of a Facility Consultant responsible for overseeing its general operation, origination, review, and approval of sub-projects in line with eligibility requirements.
This initiative underscores EBRD’s commitment to supporting green economy investments and fostering sustainable development in Turkiye.
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