30 million euro green financing from FMO to Garanti BBVA Leasing

Dutch Entrepreneur Development Bank FMO announced that it provided a loan of 30 million euros to Garanti BBVA's subsidiary Garanti Finansal Kiralama A.Ş. (Garanti BBVA Leasing).

The five-year financing is planned to be used to finance eligible green investments, including renewable energy, energy efficiency and other sustainable assets, across Türkiye. It is aimed that the resource will contribute to businesses' investments in technologies that increase their efficiency, strengthen efficiency in resource use and support Türkiye's transition to a low-carbon economy.

The financing provided by FMO is expected to support Garanti BBVA Leasing's expansion of its green asset portfolio and Turkish companies' access to long-term foreign currency financing. Focusing on SMEs, Garanti BBVA Leasing is planned to provide resources for investments that support the competitiveness and sustainable growth of companies through this financing.

The transaction is expected to contribute to Garanti BBVA Leasing's sustainability targets and Garanti BBVA's commitment to provide 3.5 trillion TL of sustainable financing by 2029. The financing is also expected to strengthen the cooperation between FMO and Garanti BBVA.

Garanti BBVA Leasing General Manager Orhan Veli Çaycı said:

"Sustainability is an integral part of our approach to financing the real economy. This new financing transaction with FMO strengthens the support we provide to businesses investing in technologies that increase renewable energy, energy efficiency and resource efficiency, while contributing to further diversifying our long-term funding sources.

“We are pleased to take our long-standing cooperation with FMO even further and continue to support investments that contribute to Turkey's green transformation.”

FMO Financial Institutions ECA MENA Regional Manager Ruhi Coşkun made the following evaluation regarding the cooperation:

“Access to long-term finance is of great importance for businesses to be able to invest in the technology and assets they need for a more sustainable future.

With this Green Financing, we support Garanti BBVA Leasing to expand financing opportunities for renewable energy, energy efficiency and other climate-focused investments across Türkiye. “By working with a strong local partner, we aim to support businesses, including SMEs, to increase their efficiency and resilience while contributing to the country's climate transformation.”