BAKU, Azerbaijan, December 15. The European Bank for Reconstruction and Development (EBRD) is providing a €100 million loan to Türk Ekonomi Bankası (TEB) to support green investments across Türkiye, Trend reports via the EBRD.
The financing, extended under the EBRD’s Green Economy Financing Facility II (GEFF II), will enable TEB to on-lend to sub-borrowers investing in projects that promote the green economy.
This transaction marks the first green-focused initiative in the long-standing partnership between TEB and the EBRD. It also aligns with the bank’s strategic objective of transforming the financial sector to drive the transition toward green, low-carbon economies. GEFF programmes facilitate this goal by expanding financial opportunities for climate-conscious investments, supporting local partner banks in providing financing to businesses that enhance energy efficiency, adopt renewable energy technologies, and reduce carbon emissions.
TEB, with approximately 440 branches and 8,000 employees across Türkiye, serves retail, commercial, corporate clients, and small and medium-sized enterprises.
Since 2009, the EBRD has been a key investor in Türkiye, committing more than €23 billion through 500 projects and trade finance limits, primarily in the private sector.