10/21/2016
Garanti Bank Provided Funds Amounting to € 100 Million to Finance Renewable Energy Investments
Garanti Bank’s Chief Executive Officer Fuat Erbil: “We have confirmed our vision of being the first bank in Turkey which international banks, investors and finance institutions wish to work with, upon successfully having signed an unsecured loan agreement with a back-payment period of 12 years despite uncertainties in foreign markets.”
It has been disclosed that Garanti Bank provided funds amounting to € 100 million to finance renewable energy investments in Turkey. According to the disclosure, Garanti Bank has signed a loan agreement with Proparco, the private sector subsidiary partially owned by Agence Française de Développement (AFD – French Development Agency) worth € 100 million with a back-payment period of 12 years to finance renewable energy and energy efficiency investments. Garanti Bank’s Chief Executive Officer Fuat Erbil made the following statement: “We have confirmed our vision of being the first bank in Turkey which international banks, investors and finance institutions wish to work with, upon successfully having signed an unsecured loan agreement with a back-payment period of 12 years despite uncertainties in foreign markets. The agreement will also be a driving force for us to enhance the value we have created for the society and the environment in line with our policies of sustainability.”
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