The European Bank for Reconstruction and Development (EBRD) has extended a €25 million green financing loan to Burgan Bank Türkiye, marking the bank’s first green-linked funding agreement.
The loan, part of the second phase of the EBRD’s flagship Green Economy Financing Facility (GEFF), will strengthen Burgan Bank’s sustainability strategy by enabling it to fund green economy projects across commercial, public and residential sectors.
GEFF aims to mobilise long-term financing for Türkiye’s private sector through partner financial institutions, supporting investments in energy efficiency, renewable energy, climate resilience and green technology. The initiative underpins Türkiye’s transition towards a low-carbon, sustainable economy.
Burgan Bank Türkiye currently operates 28 branches across 13 industrial and trade regions, serving a broad customer base in corporate, commercial and digital banking.
Oksana Yavorskaya, the EBRD’s Deputy Head of Türkiye, said: “This transaction underscores our awareness of the importance of green financing and our commitment to advancing Türkiye’s green transition. We are pleased to partner with Burgan Bank Türkiye in pursuit of these goals and are confident that the financing distributed through its network will significantly support the country’s climate ambitions and sustainable growth.”
Burgan Bank Türkiye’s Chief Executive Officer, Murat Dinç, stated: “We are pleased to have signed a €25 million, five-year financing agreement with the EBRD. This agreement, executed under the EBRD’s GEFF, represents our bank’s first green financing from an international financial institution. With these funds, we will support companies focused on green projects, including energy efficiency and renewable energy initiatives. The funds will also contribute to the growth and diversification of our customer portfolio. Our partnership with the EBRD reflects our strong commitment to promoting the green economy and financing sustainable investments. We remain dedicated to accelerating our country’s transition to a green economy and providing financing for the real sector’s sustainable projects.”
The EBRD is among Türkiye’s leading investors, with more than €22 billion committed through 499 projects and trade finance limits since 2009, predominantly in the private sector.