GGF ISSUES SECOND LOAN TO YAPI KREDI LEASING FOR EUR 15 MILLION
- Credit line expands Yapı Kredi Leasing's capacity for sustainable long-term energy efficient equipment financing.
- Loan expected to translate into energy savings of over 8,250 MWh and emission reductions of over 1,800 tons of CO2 annually.
Luxembourg and Istanbul, 20 August 2014 - The Green for Growth Fund, Southeast Europe (GGF) is supporting Yapı Kredi Leasing with a EUR 15 million senior loan. This loan will be used to provide Yapı Kredi Leasing's clients with additional possibilities for leasing energy-efficient machinery.
Yapı Kredi Leasing, Turkey's leading leasing company in terms of new business volume and total assets, is a subsidiary of Yapı Kredi Bank, whose main shareholders include Koç Group and UniCredit. Building on the strengths of its parent, Yapı Kredi, which has a branch network of more than 900 branches throughout the country, Yapı Kredi Leasing is ideally positioned to offer leasing finance solutions for corporate clients as well as micro, small and medium enterprises (MSMEs) in various sectors.
"We have built a very strong and successful partnership with Yapı Kredi Leasing, which began with a first loan in 2010," said Christopher Knowles, Chairman of the Green for Growth Fund, Southeast Europe. "We are therefore very pleased to deepen our cooperation through this new credit line and, together with Yapi Kredi Leasing, to contribute towards advancing the replacement of outdated machinery with more environmentally friendly and energy-efficient equipment."
Özgür Maraş, General Manager of Yapı Kredi Leasing, said, "We believe that our cooperation with the GGF will strengthen our ability to support energy investments in Turkey. As the sector leader, we will utilize these financial resources to help grow MSMEs, the backbone of the Turkish economy.
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ABOUT THE GREEN FOR GROWTH FUND, SOUTHEAST EUROPE (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 Neighbourhood 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 investor base comprises donor agencies, international financial institutions and institutional private investors, and recently added the International Finance Corporation (IFC) and Netherlands Development Finance Company (FMO). The GGF, registered under Luxembourg law as a SICAV (variable capital investment company), is privately managed by Oppenheim Asset Management Services S.àr.l., Luxembourg, in concert with the fund advisor, Finance in Motion GmbH, Frankfurt/Main, Germany, and the technical advisor, MACS Management & Consulting Services GmbH, Frankfurt/Main, Germany.
* 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 Yapı Kredi Leasing
Yapı Kredi Leasing, established in 1987, is Turkey's largest leasing company by asset volume and equity capital. As the market leader for the past 5 years, Yapı Kredi Leasing has established itself as a key driver of the Turkish leasing sector. Yapı Kredi Leasing operates predominantly in Turkey and is focused exclusively on providing leasing finance.
Yapı Kredi Leasing serves corporate, commercial and SME customers in various sectors from 12 branches located in different regions and from the company's headquarters in Istanbul. Yapı Kredi Leasing is a board member of the Turkish Association of Financial Institutions.
Media contact GGF
Phone: +49 (0)69/977 876 50-320
Media contact Yapı Kredi Leasing
Phone: +90 212 347 03 30