Turkey's Ministry of Treasury and Finance

The European Bank for Reconstruction and Development (EBRD) on Nov. 22 provided a $25 million loan to Garanti BBVA Leasing for on-lending to eligible companies looking to invest in greater sustainability.

Turkey's Ministry of Treasury and Finance said the grey listing of the country on Oct. 21 by the Financial Action Task Force (FATF) was unfair.  

"Despite coordination studies, putting our country on the grey list has created a result that is unwarranted," the ministry said in a statement. 

The European Bank for Reconstruction and Development (EBRD) has provided a fund of €40 million (over $47.9 million) to boost Turkey's resource efficiency and renewable energy projects.

In its first transaction with Turkish leasing firm Is Finansal Kiralama, the bank is providing loan to finance investments in green projects, according to a press release issued on Feb. 5.