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Contributing to climate change mitigation in Turkey
Project
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Signature date
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Location
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Turkey
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Financing tool
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Financing amount (Euro)
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40000000
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Financing details
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EUR 40m loan
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Customer
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Is Finansal Kiralama A.S.
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Type of customer
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Financial institution
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Country of headquarters
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Turkey
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Project number
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PTR1080
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Environmental and social ranking
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IF-A
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Climate co-benefits
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Project with climate co-benefits
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has allocated a loan to Iş Leasing to support the energy transition of its clients and provide them with individual equipment using renewable energies.
Client presentation
Iş Leasing is the leasing subsidiary of the Turkish private bank Işbank, the largest in the country. Iş Leasing was set up in 1988 by the International Finance Corporation (IFC) and Işbank. It is today a leader in the development sector in Turkey. Its leasing activity allows its clients to dispose of property and equipment without owning them.
Project description
Proparco has allocated a EUR 40m loan to Iş Leasing to develop financing for energy efficiency equipment, mainly solar-powered, for its clients. This project is part of a process to mitigate climate change in Turkey.
Project impact
The project is classified 100% climate and contributes to climate change mitigation in Turkey. It also contributes to supporting 9,600 jobs, mainly in the companies financed by Iş Leasing. The project will contribute to the achievement of SDGs 8 (“Decent work and economic growth”) and 13 (“Climate action”).