To imply financing opportunities for green investments, the European Bank for Reconstruction and Development (EBRD) is allocating a substantial €100 million financing package, complemented by US$ 5 million from the Clean Technology Fund (CTF), to ING Türkiye and its wholly owned subsidiaries ING Leasing. ING Türkiye will leverage the funding to increase access to finance for individuals or businesses investing in the green economy.

This initiative is under the EBRD’s Green Economy Financing Facility (GEFF) and aims at supporting private-sector contributions to Turkey’s green transition.

The GEFF initiative focuses on providing loans to financial institutions to support small-scale investment projects in renewable energy, energy efficiency, and resource efficiency. This facility in Turkey builds on the Türkiye Sustainable Energy Financing Facility, participating banks and leasing companies utilize finance to support individuals and businesses in making environmentally conscious investments through this initiative.

In addition, with regard to support for the development of female-led small and medium-sized enterprises (SMEs), the EBRD’s expanded “Women in Business program” in Turkey intends to provide financial support of up to €600 million in Turkey, increasing access to finance for female-led SMEs. The “Women in Business Programme” is a regional project of the EBRD that supports women-led SMEs by providing specialized loans, technical assistance, and networking activities.

Oksana Yavorskaya, EBRD Deputy Head of Türkiye, emphasized that the key goals of both EBRD and Turkey are supporting the green transition and expanding opportunities for women-led SMEs. To date, the EBRD has invested over €19 billion in the Turkish economy, primarily in the private sector.