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EUR 150 Million in new EIB support for sustainable communities in Turkey

European Investment Bank - BEI/13/221   10/12/2013

Other available languages: FR DE TR

PRESS RELEASE

BEI/13/221

Luxembourg, 10 December 2013

EUR 150 Million in new EIB support for sustainable communities in Turkey

The European Investment Bank (EIB) is providing a EUR 150 million loan to Türkiye İş Bankası A.S. (Isbank) to support small to medium-sized investments of SMEs and Mid-Caps with a focus on projects contributing to sustainable communities. Such investments can be in the areas of energy efficiency, the environment, protection against natural disasters, health and improvement of working conditions as well as legally required safety obligations.

On this new EIB operation Pim van Ballekom, EIB Vice-President responsible for Turkey, stated: “The EIB is pleased to be building on the close cooperation established between our two institutions by signing a third loan agreement with Isbank. We are providing this new financing facility for the benefit of sustainable communities in our capacity as the European Union's bank. Our action will be amplified by the synergies of our partnership with Isbank. Our new Facility for Sustainable Communities with Isbank will further support Isbank’s commitment, as the largest private bank in Turkey, to promoting the sustainable growth of Turkish companies. By providing loans to SMEs and Mid-Caps which have an active policy of sustainable investment, the new facility will foster the convergence of EU and Turkish enterprises in the area of environmental and social responsibility. Through this agreement, the EIB and Isbank are aiming to increase the availability and lengthen the maturity of funding for SMEs in Turkey, which are an essential element of the country’s economy and growth potential”.

Background information

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

Press contact

Helen Kavvadia, e-mail: kavvadia@eib.org, tel.: +352 4379 84486, gsm +352 691 286 017

Website: www.eib.org/press - Press Office: +352 4379 21000 – press@eib.org


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