Proparco grants a €75 million loan to Garanti BBVA Leasing to support the green transition in Türkiye

The €75 million credit facility granted to Garanti BBVA Leasing will enable the Turkish leasing company to finance more projects with positive environmental benefits.

The funds will entirely be used to finance investments in renewable energy, energy efficiency, electric vehicles and other eligible climate-focused projects. Through these resources, the institution aims to support the green transition of the private sector across Türkiye.

This transaction enables Proparco to support Garanti BBVA Leasing in the area of sustainable finance and to underpin its long-term strategy. The agreement also aims to make green finance more accessible, particularly to small and medium-sized enterprises (SMEs).

Steven Gardon, Proparco’s Regional Director for Türkiye, Central Asia and the Caucasus, the Balkans and Eastern Europe, said: “The scale of investment required for Türkiye's green transition calls for the mobilization of long-term, impact-driven financing on a much broader scale. With this objective in mind, we have launched a new €75 million partnership that combines Garanti BBVA Leasing's sector expertise and extensive customer network with Proparco's development finance capabilities. We believe this funding will accelerate investments in renewable energy, energy efficiency and electric mobility, while making green transition financing more accessible, particularly for SMEs. We are pleased to support the private sector's transition towards a low-carbon and more resilient economy through this partnership with the Garanti BBVA Group, which has been contributing to Türkiye's economic development for 80 years.”