Sustainability Collaboration with International Financial Institutions
Garanti Bank offers long-term financing to SMEs by working in cooperation with international financial institutions on projects connected with energy-efficiency and renewable energy, as the Bank views these projects as having a significant opportunity to reduce Turkey's GHG emissions. For example, Garanti has provided favored financing to small and medium-sized businesses on energy efficiency and renewable energy subjects through the Turkey Sustainable Energy Financing Facility (Tur-SEFF) and Mid-Sized Sustainable Energy Financing Facility (Mid-SEFF), both of which are supported by the EBRD.
Examples of sustainability collaboration with international financial institutions are Women in Business, EIB, KfW, Mid-SEFF and similar programs.
Garanti Bank signed the goodwill letter for the “Financing and Consulting Support Program for Establishments Managed by Women” that was initiated by the EBRD, European Union Turkish Delegation, Republic of Turkey Ministry of Labor and Social Security and Turkish Business Council. With this program, Garanti is involved in a Euro 300 million loan package that will be given to establishments managed by women.
Additionally, Garanti signed the “Protocol for Guarantee Support to Women Entrepreneurs of Garanti” with the Credit Guarantee Fund (KGF) to provide a solution to the guarantee problems women entrepreneurs face when applying for loans. 9.36% of the total wholesale funding Garanti received in 2017 was subjected to ESG eligibility criteria.