By Olga Rosca

The European Bank for Reconstruction and Development (EBRD) is teaming up with BNP Paribas Finansal Kiralama A.S., a leasing company in Turkey, to enable local businesses to invest in newer, more efficient, less resource-intensive equipment.

The company operates in Turkey as BNP Paribas Finansal Kiralama A.Ş. and is part of BNP Paribas Leasing Solutions, a European leader in asset finance. It specialises in financing solutions for a wide range of equipment for professional use, from the agriculture, construction, logistics, industrial and textile sectors to professional equipment for the information technology, healthcare, office equipment, telecommunications and solar energy sectors.

BNP Paribas Finansal Kiralama A.Ş. will channel the EBRD funds to small and medium-sized enterprises and public-sector companies in Turkey investing in new equipment to help achieve greater energy efficiency, water efficiency, waste minimisation and/or implement small-scale renewable energy projects.

The loan is being extended under the third phase of the Turkey Sustainable Energy Financing Facility (TurSEFF III), backed by the European Union and the Republic of Turkey’s Ministry of Treasury and Finance. Launched in 2010, the credit line has provided financing of €719 million(US$823.2million) to commercial banks and leasing companies for on-lending to more than 2,200 private-sector small business projects for sustainable energy investments.

The EBRD is a leading institutional investor in Turkey and, to date, has invested more than €15 billion in the country through 367 projects, with the overwhelming majority of those in the private sector. Sustainability is at the heart of its work.