In Turkey, Proparco and DenizBank join forces to support green projects and farmers

DenizBank is one of the leading private banks in Turkey, with more than 16 million customers and nearly 15,000 employees. Since its establishment in 1997, the Turkish bank has developed its activity over high-impact segments such as agriculture, SMEs and renewable energy. In 2021, the bank established its Sustainability Management System and published its Sustainability Policies. In 2022, DenizBank is implementing an enhanced environmental and social risk management system for its project finance activities.

"In challenging environments, Proparco is willing to support its clients and their ambition to promote a sustainable future. DenizBank has demonstrated its long-standing commitment to finance projects with strong social and environmental impacts. We are glad to stand at their side today and to accompany their sustainable journey, financing renewable energy projects and farmers. It will contribute to the strengthening of both climate finance in Turkey, after the country joined the Paris Agreement in 2021, and of the agricultural production "said Emmanuel Haye, Deputy Head of financial institutions division at Proparco and Stanislas de La Rivière, Investment Officer.

DenizBank Executive Vice President, Beril Oğuz shared her views on the subject: “As DenizBank, while contributing to the economy, we have been also fulfilling our responsibilities against our environment, planet and future since day one. With the ESG linked syndicated loan facilities and other similar transactions we have realized recently, we have created a considerable amount of resources for the financing of agriculture industry and our farmers.  Now, with this loan we obtained from Proparco, we are increasing our support for renewable energy and energy efficiency investments, which are crucial for Türkiye's transition to a low carbon economy. We will maintain our efforts with the awareness that each step we take for the sake of agriculture, efficiency and renewable resources, is an investment to the future of our country and our planet.”

The project will contribute to Sustainable Development Goals #7 (clean and affordable energy), #8 (decent work and economic growth) and #13 (action on climate change).

About Proparco

Proparco is the private sector financing arm of Agence Française de Développement Group (AFD Group). It has been promoting sustainable economic, social and environmental development for over 40 years. Proparco provides funding and support to both businesses and financial institutions in Africa, Asia, Latin America and the Middle-East. Its action focuses on the key development sectors: infrastructure, mainly for renewable energies, agribusiness, financial institutions, health and education.

Its operations aim to strengthen the contribution of private players to the achievement of the Sustainable Development Goals (SDGs) adopted by the international community in 2015. To this end, Proparco finances companies whose activity contributes to creating jobs and decent incomes, providing essential goods and services and combating climate change. For a World in Common.

For further information: www.proparco.fr and @Proparco

About DenizBank

DenizBank started its journey when it was acquired by Zorlu Holding in 1997 in the form of banking license from the Privatization Administration. The Bank was acquired by Dexia, one of the leading finance groups of Europe, in October 2006; and then its shares were sold to Russia’s largest bank SberBank on September 28, 2012. As of July 31, 2019, the Bank was transferred to ENBD, again one of the largest institutions in its region.

Aiming to create a “financial supermarket” gathering various financial services under one roof, DenizBank Financial Services Group has 717 branches in total including the branches of subsidiaries and nearly 15 thousand employees operating in 81 provinces of Turkey; six domestic and three international financial subsidiaries, six domestic non-financial subsidiaries and a branch in Bahrain. DenizYatırım, Deniz GYO, DenizPortföy Yönetimi, DenizLeasing, DenizFaktoring, fastPay, Intertech, NEOHUB, DenizKültür, Ekspres Bilgi İşlem ve Ticaret, Açık Deniz Radyo-TV and Bantaş are the domestic subsidiaries of the Group, and Eurodeniz, DenizBank AG and DenizBank Moscow are the international subsidiaries.