EBRD Supports Türkiye’s Green Transition With €50M Loan for Electric Vehicles

Wedoany.com Report-Mar 7, The European Bank for Reconstruction and Development (EBRD) has approved a 50 million euro loan to TEB Arval, a leading fleet leasing and mobility solution provider in Türkiye.

This financing will support the acquisition of 1,200 electric vehicles (EVs), including battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), to help the company reduce its carbon footprint and enhance sustainability.

As Türkiye faces rapid urbanization, the demand for sustainable transportation has grown, with the country's transport sector historically contributing to significant environmental challenges. TEB Arval aims to lead the shift toward low-carbon mobility, planning to increase the share of electric vehicles in its fleet by 2027.

Mehmet Erdem Yasar, Deputy Head of Türkiye at the EBRD, highlighted the bank's commitment to supporting greener mobility, stating, “This investment not only reduces carbon emissions but sets a strong example for the industry, promoting environmental responsibility.”

Kağan Yaşa, General Manager of TEB Arval, emphasized the company’s commitment to offering sustainable mobility solutions, combining electric vehicle leasing with charging infrastructure, backup vehicles, and driver training.

Since 2009, the EBRD has committed over 22 billion euros to 476 projects in Türkiye, with the majority focused on the private sector.