The European Bank for Reconstruction and Development (EBRD) has announced a €25 million green financing loan to Türkiye’s Burgan Bank, marking the latter’s first green-linked financing initiative. The funding comes under the second phase of the EBRD’s flagship Green Economy Financing Facility (GEFF), a program designed to promote sustainable economic growth and accelerate the green transition across Türkiye’s key sectors.
The proceeds from this loan will enable Burgan Bank to extend financing to projects that advance the green economy, spanning the commercial, public, and residential sectors. This partnership reflects both institutions’ shared commitment to supporting energy efficiency, renewable energy, climate resilience, and green technology development — key pillars in driving Türkiye’s transition toward a low-carbon and sustainable future.
Through the GEFF framework, the EBRD channels long-term financing to Türkiye’s private sector via local partner financial institutions. These partnerships play a critical role in mobilizing investments that not only mitigate environmental impacts but also enhance energy security and support innovation in green technologies.
Commenting on the development, Oksana Yavorskaya, Deputy Head of Türkiye at the EBRD, said, “This transaction underscores our awareness of the growing need for green financing and our commitment to advancing Türkiye’s green transition. We are pleased to partner with Burgan Bank Türkiye in pursuit of these goals and are confident that the financing distributed through its network will significantly contribute to the country’s climate ambitions and sustainable growth.”
Burgan Bank Türkiye’s Chief Executive Officer, Murat Dinç, emphasized the importance of this collaboration, stating, “We are pleased to have signed a €25 million, five-year financing agreement with the EBRD. This agreement, executed under the EBRD’s GEFF, represents our bank’s first green financing from an international financial institution. With these funds, we will support companies engaged in green projects, particularly those focused on energy efficiency and renewable energy initiatives. The financing will also help expand and diversify our customer base. Our partnership with the EBRD reflects our strong commitment to promoting the green economy and supporting the real sector’s sustainable transformation.”
Burgan Bank Türkiye currently operates 28 branches across 13 major industrial and trade regions, serving a wide client base in corporate, commercial, and digital banking. The new financing will further strengthen its role in facilitating access to sustainable credit and empowering local businesses to adopt environmentally responsible practices.
The EBRD remains one of Türkiye’s most significant institutional investors, with over €22 billion committed through 499 projects and trade finance limits since 2009, predominantly in the private sector. This latest collaboration with Burgan Bank marks another step in the EBRD’s ongoing efforts to promote inclusive, resilient, and green economic growth across Türkiye.
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