GGF INCREASES SUPPORT FOR YAPI KREDI LEASING WITH 3RD LOAN
- EUR 20 million senior loan to finance renewable and efficient energy
- Measures backed with the funding are expected to save up to 40,000 MWh annually and reduce CO2 emissions by close to 13,000 metric tons per year
Luxembourg and Istanbul, 23 June 2016 – The Green for Growth Fund, Southeast Europe (GGF) said today it will lend EUR 20 million to Yapı Kredi Leasing to further support the company’s financing program for renewable energy production and energy‐efficient machinery.
This marks GGF’s third senior loan to Yapı Kredi Leasing, Turkey’s leading leasing company in terms of new business volume and total assets. Yapı Kredi Leasing, a subsidiary of Yapı Kredi, holds a strong energy efficiency lending portfolio and is rapidly developing its renewable energy financing business. The long‐time GGF partner has access to the some 1,000 branch offices of its parent Yapı Kredi, coverage that creates a favorable situation for serving corporate clients and micro‐, small and medium enterprises (MSMEs) in various sectors.
GGF Chairman Christopher Knowles said: “This funding highlights our strong and successful partnership with Yapı Kredi Leasing, which began with the first loan back in 2010. The new credit line further deepens our relationship and will allow the GGF to foster additional renewable energy production and the replacement of outdated machinery with more energy‐efficient models.”
Yapı Kredi Leasing General Manager Fatih Torun said his company plans to allocate this funding to boost organizations working on renewable energy projects. “As the leading leasing company in Turkey, our aim is to help companies improve their business while increasing their energy efficiency, which, in return, protects the environment. We are pleased with our partnership with GGF and determined to continue this cooperation as we support renewable energy projects in Turkey.”
ABOUT THE GGF
The Green for Growth Fund, Southeast Europe (GGF) is dedicated to enhancing energy efficiency and fostering the use of renewable energy sources in Southeast Europe, including Albania, Bosnia and Herzegovina, Croatia, FYR Macedonia, Kosovo*, Montenegro, Serbia, and Turkey as well as in the nearby European Eastern Neighborhood region comprised of Armenia, Azerbaijan, Georgia, Moldova and Ukraine.
The GGF provides refinancing to financial institutions for on‐lending to enterprises and private households seeking to finance energy efficiency projects. The GGF also invests directly in small to medium‐scale renewable energy projects. To maximize the impact of the Fund’s investment activities, the GGF’s Technical Assistance Facility offers capacity building support to local financial institutions and partners. The GGF was initiated as a public‐private partnership in December 2009 by the KfW Development Bank (KfW) and the
European Investment Bank (EIB) with the financial support of the European Commission, the German Federal Ministry for Economic Cooperation and Development (BMZ), and the European Bank for Reconstruction and Development (EBRD). Its growing base of committed investors comprises donor agencies, international financial institutions and institutional private investors, such as the International Finance Corporation (IFC), the Netherlands Development Finance Company (FMO) and the Development
Bank of Austria (OeEB). The GGF, registered under Luxembourg law as a SICAV (variable capital investment company), is privately managed by Oppenheim Asset Management Services S.à r.l., Luxembourg, in concert
with the investment advisor, Finance in Motion GmbH, Frankfurt/Main, Germany supported by its technical advisor, MACS Management & Consulting Services GmbH, Frankfurt/Main, Germany. For more information: www.ggf.lu
* This designation is without prejudice to positions on status, and is in line with UNSC 1244 and the ICJ Opinion on the Kosovo Declaration of independence.
ABOUT YAPI KREDI LEASING
Established in 1987, Yapi Kredi Leasing aims to support all kinds of investments to develop the leasing sector in Turkey by combining the know‐how of human resources, technology and experiences and creating
competition and better quality for customer satisfaction. A leading financial partner for a wide range of investment companies, Yapi Kredi Leasing provides numerous solutions for Corporate, Commercial and SME customers, and as a result the company has been the market leader since 2009.
Media contact GGF
Phone: +49 (0)69/271 035‐307
Media contact Yapı Kredi Leasing
Artı İletişim Yönetimi
Phone: +(90) 212 347 0330