Proparco to support SMEs in Turkey with Akbank, fostering green projects and woman entrepreneurship

Proparco and Akbank have successfully signed a 50 million USD senior loan. Akbank will expand its support to SMEs for green projects (renewable energy and energy efficiency) and woman entrepreneurship.

“Akbank has an ambitious strategy towards climate change, with an objective of around 10 billion euros (200 billion TRY) dedicated to sustainable finance by 2030, and to become net-zero for all of its activities in 2050. Today, we are glad to stand at their side and accompany this strong ambition. In challenging environments Proparco is there to support private sector development and more equal opportunities. The focus of our financing will be to small and medium businesses in Turkey and woman entrepreneurship.” said Emmanuel Haye, Deputy Head of financial institutions division at Proparco and Stanislas de La Rivière, Investment Officer covering Eurasia region.


“Thanks to our cooperation with Proparco, Akbank will further boost Turkish economy by giving women entrepreneurs and SMEs’ green investments access to financing. Having Proparco’s trust and support in our long term sustainability vision, we will achieve our medium- and long-term goals with confidence as we navigate in testing macro environment.” said Levent Çelebioğlu, Executive Vice President of Akbank’s Corporate and Investment Banking.

The project will contribute to Sustainable Development Goals #5 (gender equality), #7 (clean and affordable energy), #8 (decent work and economic growth), #9 (industry, innovation and infrastructure), and #13 (action on climate change).

This article was originally published by AFD