In Türkiye, Green Economy Financing Facility (GEFF or Facility) provides finance and advice to help residential, public, and private sector beneficiaries to become more competitive and climate resilient.
Green Economy means an economy that minimizes the use of energy, water and other resources in production and consumption activities and thereby minimizes the negative impact on environment and climate. The GEFF facility supports this transition process by providing finance for investments in ‘Green Technologies’, i.e.:
Green Economy Financing Facility Türkiye (GEFF Türkiye) supports Türkiye’s green economy transition with €500 million of financing by the European Bank for Reconstruction and Development (EBRD) to be disbursed for green economy investments through local participating financial institutions. The implementation of GEFF Türkiye is supported by €21.5 millions of concessional financing funded by the Clean Technology Fund (CTF) to implement corporate climate governance (CCG) improvements and technical assistance provided by the Facility Consultant at no-cost to beneficiaries. The technical assistance is funded by Clean Technology Fund (CTF), EBRD Shareholder Special Fund and the Türkiye – EBRD Cooperation Fund. The Facility Consultant for GEFF Türkiye is Stantec Türkiye.
Combined with green lending, the Facility also aims to support mainstreaming of corporate climate governance (CCG) amongst participating financial institutions and end-beneficiaries. CCG refers to the rules, policies and processes organizations, including financial institutions, use to identify, assess, manage and disclose risks and opportunities resulting from climate change. CCG has developed in response to the growing recognition from regulators, business and finance that climate change is a major systemic source of risk as well as opportunities.
If you have any questions, please do not hesitate to contact the bilgi@ebrdgeff.com
Overall Aim of GEFF Türkiye