EBRD marks $265 mln second funding round for green SME projects in Turkey

The European Bank for Reconstruction and Development (EBRD) said it marked on Thursday the second round of financing under its facility for on-lending to energy efficiency and renewable energy projects of small and medium enterprises (SMEs) in Turkey.

The financing is provided under EBRD's extended Turkish Sustainable Energy Financing Facility (TurSEFF), aimed at supporting Turkey's long-term energy strategy, the EBRD said in a statement.

The facility was launched in 2010 with $284.2 million (219 million euro) and extended by a further $265 million in 2013 to meet the growing demand for energy efficiency and small-scale renewable energy investments among SMEs.

Eligible Turkish SMEs that want to invest in energy efficiency or renewable energy projects can apply for up to 5.0 million euro financing at partner banks.

At present, Turkish commercial banks Akbank [BIST:AKBNK], Denizbank [BIST:DENIZ], Isbank [BIST:ISATR], Vakifbank [BIST:VAKBN] and Yapi Kredi Bank [BIST:YKBNK] finance energy-saving projects under TurSEFF.

($ = 0.769 euro)

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