13 / 04 / 2015
International fund for residential energy efficiency investments, from EBRD to Şekerbank...
Şekerbank, being the first bank in Turkey that provides loans to the building managements and which finances the energy saving investments of thousands of houses across Turkey through its EKOkredi product at affordable terms, has obtained 60-million-US dollar fund from the European Bank of Reconstruction and Development (EBRD) for its efforts in this field. Şekerbank will finance the energy efficiency projects of hundreds of houses, housing estates and enterprises, such as heat insulation, shift to solar power, wastewater management. through this fund which is provided first to Şekerbank from EBRD's 350-million-US dollar Turkey Residential Energy Efficiency Finance Facility (TuREEFF) program
Şekerbank, which procures foreign sources from different international financial institutions and funds thanks to its leading role in Turkey in the field of financing of the energy saving, has signed a 60-million-US dollar loan agreement within the scope of 350-million-US dollar Turkey Residential Energy Efficiency Finance Facility (TuREEFF), being the residential energy efficiency program of the European Bank for Reconstruction and Development (EBRD).
Şekerbank, which is the first bank participating in the program, will provide financial support to its both retail clients and enterprises to be used in the energy efficiency investments.
Şekerbank is the first bank participating in the residential energy efficiency program
Şekerbank that has introduced the energy efficiency not only to retail clients but also to farmers, tradesmen and producers through its community banking mission is the first bank that has participated in the Residential Energy Efficiency Program of the European Reconstruction and Development Bank. Within the scope of the TuREEFF program targeting to provide Turkish banks with long-term financial support with the purpose of decreasing the residential energy consumption, Şekerbank has procured 12-million-US dollar and 48-million-US dollar funds from the Clean Technology Fund (CTF) and the European Reconstruction and Development Bank respectively.
With this loan of 60 million US dollars in total, Şekerbank will provide loans to the community buildings and the suppliers that operate in the field of energy efficiency in buildings, as well as its retail clients, with financial support for energy efficiency investments.
Önder: “15 percent of the liabilities are for energy efficiency investments”
Zeki Önder, Executive Vice President of Financial Institutions,- has underlined that, thanks to Şekerbank’s international recognition in the field of financing sustainable development, 15% of international borrowings are raised to finance energy efficiency investments. Önder said, “Şekerbank’s successful efforts in the field of extending the energy efficiency loans are well regarded internationally. We are in cooperation with the funds targeting financing of the sustainable development in which the development banks of the EU countries are investors. Within this scope, we continue to ensure the inflow of more of the qualified foreign funding for the purpose.”
After stating the European Bank of Reconstruction and Development (EBRD) as an important business partner of Şekerbank, Önder said, “We are glad to be the first bank of the TuREEFF program that the EBRD has initiated to finance the residential energy efficiency in Turkey.
Zeki Önder has also pointed out that thousands of houses have been insulated through EKOkredi that has been developed for energy efficiency and natural preservation investments. Şekerbank is the first bank that provides loans to the building managements through EKOkredi.
Davey: “We encourage the homeowners across Turkey to increase the energy efficiency of their houses”
EBRD Turkey Director Michael Davey talked as follows on the program: “As EBRD, we think that investments made on highly energy efficient houses yield great returns. We encourage the homeowners across Turkey to increase the energy efficiency of their houses. Within the scope of the program, financing and consultancy services will be provided through Şekerbank, and we expect more local banks to participate in this program in the near future.”
Over 59 thousand people meet energy saving through EKOkredi...
With EKOkredi which was developed to finance the energy efficiency investments at affordable terms, Şekerbank has provided financial support that is worth over TL 560 million in the field of energy efficiency since 2009, thus having introduced energy saving to over 59 thousand people. EKOkredi Yalıtım, a sub-category of EKOkredi, which has enabled 15.8 billion kilowatt-hour of energy saving and prevented 3.5 million tons of CO2 emission in total, has made in possible to insulate almost 79 thousand houses and save 144 million cubic meters of natural gas thus far.
Saving in energy bills thanks to energy efficiency investments
Turkey Residential Energy Efficiency Finance Facility program amounting 350 million US dollars and created by the European Reconstruction and Development Bank and the Clean Technology Fund will increase the residential energy efficiency improvement investments in Turkey, and enable the homeowners to save on energy bills. TuREEFF will finance the improvements such as thermal protection, more effective heating, local hot water supply, mechanical ventilation, air-conditioning system, lighting, and water as well as the renewable energy system improvements in buildings.
The European Reconstruction and Development Bank will provide 282.5-million-US dollar part of the TuREEFF program, while the balance 67.5 million US dollars will be met by the Clean Technology Fund. This program provides Turkish banks with long-term financial support with the purpose of decreasing the residential energy consumption and thus the energy bill amounts, in addition to technical consultancy services for the Bank and the homeowners alike. The said consultancy service will be met by the European Union and Clean Technology Fund funds amounting to 10 million US dollars. Since 2009, i.e. the commencement year of its operations in Turkey, EBRD has made almost €4 million investment in the country, half of which has been used for the sustainable energy projects. At the moment, the Bank is continuing to work at its offices in Istanbul, Ankara and Gaziantep.
- Arif Ergin