Turkish Residential Energy Efficiency Financing Facility (TuREEFF) has successfully closed as of end of May 2021.
Turkish Residential Energy Efficiency Financing Facility was developed by the EBRD and supported by the Clean Technology Fund (CTF) and the EU (European Union) for financing energy efficiency investments at a residential level.
TuREEFF comprised of US$ 300 million funding combining EBRD commercial loan with a limited amount of donor-funded concessional funding by the CTF. The Facility was complemented with a donor-funded comprehensive technical assistance programme by EU.
The funding was available to Partner Banks for on lending to private sector residential stakeholders, including homeowners, construction SMEs and vendors of high energy efficient appliances and materials.
Loans were provided by 4 partner banks: Garanti BBVA, Şekerbank, Türkiye İs Bankası and Yapı ve Kredi Bankası.
Loan categories of the Facility included;
Technical Assistance of the Facility included project assessment, capacity building activities for construction SMEs, occupational health and safety checks of projects, training and capacity building activities for the partner banks, organising and participating seminars, workshops and trainings in cooperation with several stakeholders for raising an awareness on the residential level energy efficiency concept. Throughout the Facility’s implementation period, 65 events were organised/participated.
During the implementation stage of the Facility, a successful policy dialogue process with the Ministry of Environment and Urbanization was also completed. The process that started in May
2015 resulted in the amendment of the existing regulation granting exemption rights in obtaining permits for implementation of energy efficiency and solar based renewable energy measures in existing buildings.
A Gender Assessment of the Facility was also conducted in order to understand supply and demand factors influencing household access to and use of finance for building level energy efficiency improvements and home appliances in order to improve effectiveness of TuREEFF, namely by increasing uptake of EE financial products, through a better understanding of women’s and men’s role in household energy management and financing.
The study was supported by CTF and the final report of the study was published on the following website.
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63,771,114 kWh/year
14,142 tonnes of CO2