ISTANBUL – The European Bank for Reconstruction and Development (EBRD) has unveiled the third phase of its Green Economy Financing Facility (GEFF Türkiye III), mobilizing €1 billion in new financing to accelerate Türkiye’s green transition and support sustainable investments across the country.
According to GEFF Türkiye, the new financing package is backed by the Climate Investment Funds (CIF) and the Taiwan International Cooperation and Development Fund (TaiwanICDF). The program aims to expand investments in energy efficiency, renewable energy, green technologies, clean transportation, resource efficiency and circular economy projects for both businesses and individuals.
A key priority of the program is supporting businesses in regions affected by the February 2023 earthquakes. Funding will help companies rebuild operations, strengthen production capacity, reduce energy costs and develop more resilient business models while advancing their green transformation.
Beyond financing, GEFF Türkiye will continue to provide technical advisory services and access to its Green Technology Selector (GTS), an online platform that enables businesses to identify pre-approved, high-performance technologies for energy efficiency and renewable energy investments. The platform includes solutions ranging from photovoltaic solar panels and heat pumps to insulation systems, efficient motors and waste management technologies.
Since its launch in 2010, GEFF Türkiye has supported more than 13,000 projects with approximately €3.5 billion in financing, contributing to the installation of 2.8 gigawatts of renewable energy capacity, the reduction of 6.7 million tonnes of carbon dioxide emissions annually, and the recovery of 6.5 million tonnes of waste through circular economy practices. The new €1 billion phase is expected to further strengthen Türkiye’s low-carbon transition while enhancing the global competitiveness of its private sector.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök