In Turkey, BankPozitif mainly finances companies. Proparco’s support is helping it finance energy efficiency and renewable energy projects – which have substantial needs for long-term resources.
BankPozitif is a small bank whose main activity is corporate finance. It is very active in certain sectors such as energy, tourism, infrastructure and the agro-industry. It also has a retail banking activity. It is 70% owned by the Israeli bank Hapoalim and 30% by a Turkish leasing company, C Faktoring A.S.
Proparco’s credit line will be earmarked to finance energy efficiency and renewable energy projects. It will allow BankPozitif to meet increasing needs for long-term financing in these sectors.
By encouraging the bank to finance “green” projects, this operation will contribute to increasing Turkey’s power generation. It will also have a positive impact on the climate by contributing to reducing greenhouse gas emissions in the country. In addition, it will have beneficial effects on the dissemination of CSR good practices, as the bank has pledged to implement a management system for the environmental and social risks of the projects it finances.