Garanti BBVA borrows EUR 40 mln from IFC to extend green mortgage loans
Garanti BBVA has signed a EUR 40 mln loan agreement with the International Finance Corporation (IFC), a member of the World Bank Group, with the purpose of financing investments in green housing, aiming to contribute to the joint effort to preserve the environment.
The EUR 40 mln loan will allow Garanti BBVA to provide green mortgages and home improvement loans, thus encouraging the bank's clients to migrate toward sustainable options when choosing a new home or improvements for their existing one.
At the same time, the new financing will help Garanti BBVA increase its contribution to reducing greenhouse-gas emissions.
Garanti BBVA has developed in recent years a vast portfolio of green financial products for the real estate sector, including Casa Eco green mortgage loan and a green loan for residential developers.
(Photo source: Garanti BBVA)