Aklease, part of Turkey’s Akbank, has become the first leasing company to join the European Bank for Reconstruction and Development’s (EBRD) programme for sustainability in Turkey.

As a participant of the Turkey Sustainable Energy Financing Facility (TurSEFF), aimed at improving sustainability and resource efficiency of SMEs the country, Aklease has received a €25m (£28m) loan to finance leasing of equipment for energy efficiency, waste management and renewable energy.

The loan is part of the third phase of the €1bn programme, which has seen lessors, vendors and producers benefit from funding. Close to 1,000 projects have been financed under TurSEFF.

Arvid Tuerkner, EBRD managing director for Turkey, said: “We are excited for Aklease to become our first leasing partner to support resource efficiency in Turkey. Leasing is an attractive and valuable alternative to traditional bank financing. Better access to lease funding will encourage entrepreneurial activity, which in turn will support the country’s transition to a greener economy.”

Şenol Altundaş, chief executive officer of Aklease, added: “We are extremely proud of being the first leasing company to participate in the EBRD’s TuRSEFF programme. To date we have already financed almost 120 MW of solar energy and 60 MW of wind energy investments, and we will continue to finance the renewable energy and energy efficiency investments that are in our current pipeline, through TurSEFF funds.”

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