Şekerbank focuses on special credits for investments in energy efficiency and raising awareness of costomers and employees. Its partner in this process: the OeEB.
In the era of global climate change and increasingly diminished supplies of fossil fuels, sustainable, environmentally friendly energy solutions are in demand. The efficient use of energy plays an especially important role in quickly growing regions because energy demands and CO2 emissions increase drastically with economic growth. Currently, though, Turkey can only cover about 26% of its energy needs with domestic sources, which makes the country strongly dependent on expensive (oil) imports.
Increase the low willingness to invest
Many banks, companies and private individuals hesitate, though, when it comes to granting or accepting loans for improving energy efficiency. The cause lies in the lack of know-how for recognising and implementing energy saving measures as well as the lack of opportunity to finance energy efficiency projects. A credit line from OeEB and the German KfW is now providing help: with a joint commitment in the amount of EUR 20 million, the two national development banks are supporting the Şekerbank, one of the leading Turkish banks, in the energy efficiency and renewable energy sectors. The goal is to make investments in energy efficiency possible by providing access to special loans and expanding the innovative range of products offered by Şekerbank.
Focus on smaller projects
Investment programs of this scale are already being implemented in the public sector for industry and large companies. However, there is still a gap in what is offered for energy efficiency projects for medium-sized and small companies and private households in Turkey. The support of the Şekerbank is helping to close this gap. That is why the commitment of OeEB extends solely to the financing of smaller projects (in particular in the building renovation sector), which can only be taken advantage of by micro, small and medium-sized enterprises and households.
In order to establish these offerings for micro, small and medium-sized enterprises over the long term, the technical support of the bank and the customers is necessary. OeEB is therefore supporting the increase in capacity and the training and education of employees and customers in the scope of the "Advisory Programmes". The consultants began working in December 2011 and are already supporting the processes and structures of the bank.
Convincing holistic approach
The Şekerbank is the ideal partner for this project in Turkey. It already has experience with energy investments, a dense network of branches nationwide and a customer base that is particularly focused on micro, small and medium-sized enterprises. This makes it possible to use the financing from OeEB in an efficient, goal-oriented and sustainable fashion. Studies assume that investments in energy efficiency create jobs: on the one hand, by creating new business opportunities and on the other hand on account of the force multiplier effect generated by the money saved by the energy efficiency.
Evaluation Report Sekerbank Turkey
Further project details:
OeEB credit line for energy efficiency investments
Establishing a new bank product for energy efficiency financing
Evaluation of energy efficiency financing
Department Investment Financing
Department Advisory Programmes