Finansbank Climate Change Facility

Promoter – Financial Intermediary

Finansbank A.S.
www.finansbank.com

Location

• Turkey

Description

The proposed framework loan would support a series of investments in renewable energy and energy efficiency that would contribute to security of supply and the avoidance or reduction of greenhouse gas emissions and other atmospheric pollutants.

Objectives

The project would contribute to EU renewable energy and environmental policies (particularly climate change policies), it meets the Bank’s priority objectives for energy sector lending (renewable energy sources, energy efficiency) and would support a priority objective of the Accession Partnership with the EU.

Sector(s)

• Energy

Proposed EIB finance (Approximate amount)

Up to EUR 75 million (or equivalent)

Total cost (Approximate amount)

Up to EUR 150 million

Environmental aspects

Some individual schemes could be categorised as Annex I or II-type projects under the EIA Directive, which would require respectively a mandatory EIA or a review by the competent authority to assess the need to conduct one. The Bank will appraise the promoter’s capacity and procedures to ensure compliance with national and European environmental and biodiversity regulations as well as its capacity to support the Bank's Public Disclosure Policy, which aims at facilitating access by the public to environmentally relevant information.

Procurement

The Bank will review systems and procedures applied by the promoter during appraisal, including compliance with relevant national and EU legislation as defined by Procurement Directive 2004/17/EC, as well as publication in the Official Journal of the EU where appropriate.

Status

Signed - 30/05/2011