At the same time, nine Turkish banks and leasing companies received a line of credit for a total of €826 million with 35% of the envelope dedicated to green projects. In addition to these funds, the EBRD has supported around 100 SMEs with financing or advice and financing. In particular through risk-sharing partnerships with local lenders TSKB, Garanti BBVA Leasing and Akbank and to address building sustainable and resilient supply chains, accelerating digitalization and supporting the growth of high-potential start-ups and women-led businesses. In this area, the bank has provided thousands of Turkish women-led businesses with 600 million euros in earmarked loans (of which 115 million euros have already been granted through Denizbank, Akbank and Yapi Kredi) within the framework of its Women in Business program.
Twenty of the EBRD’s forty-two projects in Turkey included a gender equality component.
In 2021, the EBRD was also very active in the field of transport. It financed the Ispartakule-Verkezkoy railway line for €150 million and the extension of the Izmir metro line to the Buca agglomeration (€125 million) as well as the acquisition of 100 modern and cleaner buses for Mersin for €22 million consisting of a 10-year loan and a grant of €7 million.
“In these difficult times, our goal is to preserve the gains of economic development and create opportunities for Turkey’s green and inclusive economic recovery from the pandemic”, comments Arvid Tuerkner. EBRD Managing Director for Turkey, he believes that Ankara’s ratification of the Paris Agreement will pave the way for more green investments in the country.