PLASFED Attended VakıfBank's Green Transformation Financing Promotion Meeting
VakıfBank has launched the Energy and Transformation Financing Program with a $300 million resource secured from the Asian Infrastructure Investment Bank (AIIB) as part of its Development-Oriented Value Banking (KODEB) vision. Announced to the public at a promotion meeting attended by PLASFED President Ömer Karadeniz, the program will contribute to the reconstruction process of the provinces affected by the February 6 earthquakes, while also supporting SMEs' investments in energy efficiency, renewable energy, industrial decarbonization, and clean transportation.
Plastic Industrialists Federation (PLASFED) President Ömer Karadeniz attended the promotion meeting for the $300 million Energy and Transformation Financing Program, which was launched in cooperation with VakıfBank and the Asian Infrastructure Investment Bank (AIIB).
The Energy and Transformation Financing Program, realized with the $300 million resource provided within the scope of the first collaboration between VakıfBank and the Asian Infrastructure Investment Bank (AIIB), aims to provide long-term financing for strategic investments that will contribute to Turkey's sustainable development goals. The program offers a holistic financing model that supports economic and social development across a wide area, ranging from the reconstruction process of the earthquake region to the green transformation of the real sector.
Viewing production, employment, exports, and sustainable growth as fundamental elements of development, VakıfBank aims to contribute to the transformation of the real sector by directing international financing resources to Turkey's priority investment areas. The program implemented within this context aims to both support the recovery of the earthquake region and accelerate the green transformation investments of SMEs.
“We will continue to develop financing models that add value to development”
Evaluating the program, VakıfBank General Manager Osman Arslan said, “We see financing as a strategic tool that contributes to our country's development goals. This understanding lies at the heart of our Development-Oriented Value Banking vision. The $300 million resource we have secured from the Asian Infrastructure Investment Bank is not only a significant indicator of the trust international financial institutions place in our Bank, but also demonstrates our determination to contribute to our country's sustainable development goals.”
“We enable SMEs to contribute meaningfully to Turkey's climate transition.”
AIIB Director General of Financial Institutions and Funds, Gregory Liu, stated in his evaluation of the subject: "This financing demonstrates AIIB's commitment to supporting Turkey during a critical recovery period, while also keeping climate action at the center of our cooperation. By partnering with VakıfBank, we are accelerating reconstruction efforts and enabling SMEs to contribute meaningfully to Turkey's climate transition."
Support will be provided for the reconstruction of 11 provinces
The first pillar of the program consists of financing support for reconstruction works carried out in 11 provinces affected by the February 6 earthquakes. In this context, the working capital needs and machinery and equipment investments of contractor firms involved in the construction of social housing, public schools, hospitals, and clinics will be financed. While salaries, social security premiums, construction materials, and labor expenses will be supported through the Operating Loan, financing will be provided for machinery and equipment purchases through the Investment Loan. Within the scope of the program, financing opportunities of up to $10 million will be offered on a risk group basis.
In the second pillar of the program, new opportunities for SMEs' green transformation investments will be implemented. Favorable loan options will be offered under four headings: Energy Efficiency Loan, Renewable Energy Loan, Industrial Decarbonization Loan, and Clean Transportation Loan. In this context, investments that increase the energy efficiency of businesses, solar and wind energy projects, battery storage systems, electric vehicle charging infrastructures, and industrial applications aimed at reducing carbon emissions will be encouraged. Clean transportation investments, ranging from electric commercial vehicles and fleet transformation to smart fleet management, will also be able to benefit from the opportunities within the scope of the program. It is aimed that the investments to be realized within the scope of the program will contribute to the reduction of the current account deficit by reducing our country's energy imports.
As the leading bank in sustainability-themed financing in our country, VakıfBank, with its Energy and Transformation Financing Program, aims to support the reconstruction of the earthquake region, the spread of sustainable production, and the green transformation of the real sector in line with the Medium Term Program, the 12th Development Plan, and Turkey’s 2053 Net Zero Emission goals. The bank will continue to add value to production, employment, and sustainable development with the financing models it has developed in line with its Development-Oriented Value Banking vision.
This content has been translated using artificial intelligence technology.