EBRD invests €50m in Turkish low carbon infrastructure

The financing will be received by a leasing company to invest in green projects

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The European Bank for Reconstruction and Development (EBRD) has announced €50 million (£43.8m) to finance a Turkish leasing company focussed on green projects.

Yapi Kredi Leasing will receive the funding under the EBRD’s €500 million (£438m) Green Economy Financing Facility – and it will go towards energy efficiency, renewable energy and climate mitigation measures.

This green financing will go towards Turkish climate goals, as the nation tries to lower its reliance on carbon-intensive energy sources and power.

To date, the EBRD has invested €16.5 billion (£14.4bn) in Turkish projects since 2009.