The European Bank for Reconstruction and Development (EBRD) will provide €75 million in financing to Turkiye Sinai Kalkinma Bankasi (TSKB) under the Turkey Mid-Size Sustainable Energy Financing Facility III (MidSEFF III), it announced on Friday.
The financing is for on-lending to private sector borrowers for renewable energy and resource efficiency investments. The financing facility plans to be provided to TSKB in up to three tranches, the Bank said.
MidSEFF III builds on the success of MidSEFF & MidSEFF II, the bank noted, adding that it is aimed at increasing financial intermediation for renewable energy and resource efficiency investments to close these sectors' remaining financing gaps in Turkey.
Another objective is to improve the Participating Financial Institutions (PFIs) skills in technical assessment of a broader set of technologies, and increasing the PFIs' knowledge of relevant EU environmental and social requirements and standards in assessing mid-size renewable energy and resource efficiency investments.
TSKB is Turkey's first and only privately-owned development bank. TSKB primarily offers corporate lending, project finance and other complementary corporate banking instruments in Turkey with a focus on sustainable investment areas.
(Anadolu Agency)
