EBRD puts €50 million behind green reconstruction in Türkiye's earthquake zones

The European Bank for Reconstruction and Development (EBRD) is providing up to €50 million to QNB Leasing in Türkiye — combining €47 million of EBRD funding with a €3 million concessional loan from TaiwanICDF — to drive green investment and support recovery in regions still rebuilding from the devastating February 2023 earthquakes, according to an EBRD announcement. At least 30% of the facility must go to earthquake-affected areas, helping local businesses reconstruct in ways that are more resilient, energy-efficient, and environmentally sustainable. The financing is part of the broader Türkiye Green Economy Financing Facility III, a €1 billion programme channelling green investment through private-sector financial institutions.

QNB Leasing will on-lend the funds to SMEs and private-sector clients investing in energy efficiency, renewable energy, sustainable agriculture, green buildings, and other climate-aligned projects. The EBRD’s Deputy Head of Türkiye, Oksana Yavorskaya, said the financing addresses two urgent needs at once — Türkiye’s green transition and the long-term recovery of regions where “reconstruction needs are significant and access to affordable finance remains limited.” QNB Leasing General Manager Osman Taş said the deal will help businesses in earthquake-affected areas “rebuild in a more resilient and sustainable way,” with a focus on expanding green finance access for smaller enterprises that might otherwise struggle to secure it.

The February 2023 earthquakes killed over 50,000 people and left entire cities in ruins across southeastern Türkiye — a humanitarian catastrophe that also set back years of economic development in one of the country’s most productive agricultural and industrial regions. More than three years on, rebuilding is still far from complete, and access to affordable long-term financing for reconstruction remains a barrier for many businesses. This facility directly targets that gap, making green reconstruction financially viable for SMEs that lack the scale to attract capital on standard commercial terms.

QNB Leasing is a longstanding EBRD partner with a track record in green transition financing, giving the Bank confidence that the funds will be deployed effectively. The EBRD has committed more than €24.4 billion in Türkiye since 2009, making it one of the country’s largest institutional investors, primarily in the private sector. The new QNB Leasing facility adds to a growing portfolio of post-earthquake recovery investment that the EBRD has been building since the disaster struck.