February 4 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said that it is providing a 25 million euro ($28.6 million) loan to BNP Paribas Finansal Kiralama, the Turkey-based leasing arm of French banking group BNP Paribas.
BNP Paribas Finansal Kiralama will channel the EBRD funds to small and medium-sized enterprises (SMEs) and Turkish public-sector companies investing in new equipment to help achieve greater energy and water efficiency, waste minimisation and/or implement small-scale renewable energy projects, the bank said in a press release on Thursday.
The loan is being extended under the third phase of the Turkey Sustainable Energy Financing Facility (TurSEFF III), backed by the EU and the Turkish finance ministry. Launched in 2010, the credit line has provided financing of 719 million euro to commercial banks and leasing companies for on-lending to more than 2,200 private-sector small business projects for sustainable energy investments, the EBRD said.
BNP Paribas Finansal Kiralama is part of France-based BNP Paribas Leasing Solutions, a European leader in asset finance.
($ = 0.87407 euro)