Energy Efficiency

IFC invests in Finans Leasing to help energy efficiency

Published

May 14, 2015

Country

Comments

comments icon

0

Share

Published:

May 14, 2015

Country:

Comments:

comments icon

0

Share

IFC, a member of the World Bank Group, said it is providing a USD 60 million (EUR 52.62 million) loan to Finans Leasing, a leading Turkish leasing company, to boost lending to small and medium enterprises (SMEs) for sustainable energy efficiency projects that will cut costs and help protect the environment.

IFC will lend USD 40 million from its own resources, and mobilize the remaining USD 20 million from its new Managed Co-Lending Portfolio Program, which offers institutional investors the ability to passively participate in IFC’s future senior loan portfolio.

Finans Leasing is the fourth largest leasing company in Turkey with wide geographical coverage across the country, the press release said.

Edward Strawderman, IFC Regional Head for Financial Institutions Group for Europe, Middle East, and North Africa, said, “There is still a big gap in Turkey between the substantial potential of sustainable energy projects and their realization. Our partnership with Finans Leasing aims to address this and help small and medium enterprises use Turkey’s rich renewable energy resources to mitigate climate change.”

IFC said it has been supporting private sector development in Turkey for the last 50 years. With a USD 4.3 billion outstanding, Turkey is the third-largest country in its global portfolio, the press release said.

In line with the World Bank Group Turkey Country Partnership Strategy for fiscal years 2012 to 2016, IFC has so far invested approximately USD 2.8 billion in private sector projects in Turkey over the last three years.

With a USD 4.3 billion outstanding, Turkey is the third-largest country in IFC’s global portfolio.

Tags: ,

Related Articles

Igor Andjelkovic Country Lead Serbia Hitachi Energy

Hitachi Energy: Game-changing solutions for a sustainable energy future

25 June 2025 - With its system solutions, products, and services, Hitachi Energy contributes to sustainable energy and a better future, Igor Anđelković said at BEF 2025.

slovenia smart grids investments distribution grid

Slovenia’s EUR 150 million smart grid leap

18 June 2025 - The five electricity distribution firms in Slovenia will invest more than EUR 150 million by the end of March 2026

esma sahin scadawatt bef 2025

ScadaWatt seeks partners in Serbia to deploy its energy digitalization systems

10 June 2025 - ScadaWatt, a bronze sponsor of Belgrade Energy Forum 2025, provides remote monitoring and control systems for solar power plants.

serbia wind farms 1 GW strategic partner EPs investments

Serbia shelves plan for strategic partnership for 1 GW in wind farms

09 June 2025 - Serbia has revised the baseline of the plan for the development of energy infrastructure and energy efficiency, adopted in 2023