Turkish leasing company Finansal Kiralama (Garanti Leasing) has received financial assistance of €15m from the Green for Growth Fund (GGF) for fostering investments in energy efficiency and renewable equipment by Turkish micro, small, and medium enterprises (MSME).

The GGF loan will be used to extend the portfolio of non-standard measures such as the leasing of mid-sized solarpower plants and energy efficient equipment for the construction, textile, and manufacturing sectors.

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GGF's chairman Christopher Knowles said: “Having Garanti Leasing as a partner in Turkey is an important step for increasing the use of energy efficient equipment by the country’s MSMEs.

“Given the company’s strong market position and its extensive branch network, we are pleased to welcome Garanti Leasing as our latest partner institution.”

"In light of the convenient conditions in our country, and the government incentives and facilities, we believe the use of renewable energy systems will increase even more in the future."

GGF invests in initiatives designed to cut energy use and CO² emissions by a minimum of 20% in 19 markets across Southeast Europe, the Caucasus, Ukraine, Moldova, the Middle East and North Africa.

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Garanti Leasing's general manager Unal Gokmen said:  “We, as Garanti Leasing, provide financial support for investors in solar, wind, and biomass energy systems to increase the use of systems that are renewable, unlimited, and totally environment-friendly.

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“In light of the convenient conditions in our country, and the government incentives and facilities, we believe the use of renewable energy systems will increase even more in the future.

“Garanti Leasing values constant and sustainable contributions to the environment and in parallel with this principle, we support investments in this particular area.”

Garanti Leasing is an affiliate of Garanti Bank, which is claimed to be third-largest bank in Turkey, and offers leasing services to some 10,000 customers from a wide-variety of business sectors.