• logo linkedin
  • logo email
Akbank - Proparco
istock
Proparco has partnered with Akbank, a Turkish bank committed to sustainable development.
Client presentation

Akbank is a leading financial institution in Turkey. It is implementing an ambitious sustainable development strategy based on three lines of action: a target amount for sustainable finance for 2030 (TRY 200bn of assets financed, or EUR  11bn), a net zero target (by 2025 for the bank’s operational emissions and by 2050 for all its activities), and the commitment to publish its first TCFD (Task-Force on Climate Related Financial Disclosure) report by the end of the year.

Project description

The project aims to develop financing for SMEs on climate issues (70% for renewable energy and energy efficiency projects) and women’s entrepreneurship (30%), through a dedicated USD 50m credit facility allocated to Akbank.

Project impact

The expected development impacts of this project are:

  • 29,600 jobs supported over the next 5 years (mainly indirect jobs in the companies financed) 
  • Support for women’s entrepreneurship with 30% of Proparco’s financing dedicated to companies that meet the criteria of the 2X Challenge, an initiative to reduce gender inequality 

This project will contribute to the achievement of SDG 5 (“Gender equality”), SDG 8 (“Decent work and economic growth”) and SDG 13 (“Climate action”).

Download the project sheet

This project is part of the 2X Challenge initiative
03/22/2023
Date of signature of the project
Climate co-benefit project
Gender equality,
Renewable energies and energy efficiency,
Banks and Financial services
Sectors
Turkey
Location
Loan
Financing tool
47 143 126 Euros
Amount of funding
USD 50m loan
Financing details
AKBANK T.A.S.
Client
Turkey
Head office country
PTR1079
Project number
CES

This information is given at the time of signature, without prejudice to any developments in the operation/project