İşbank (İş Bankası) has raised 25 million Euros as a new fund from Proparco, the financial branch of the French Development Agency.
According to the information obtained by two organizations, the source will be used for medium and long-term financing of the activities of small and medium-sized companies operating in the agriculture and agricultural industry sectors to achieve energy and resource efficiency. These will include renewal of tractors and drip irrigation equipment investments for fuel efficiency.
The loan provided was İşbank’s third source from Proparco in 10 years.
In her written statement, İşbank Deputy General Manager Gamze Yalçın said:
“Supporting agriculture and agro-industries that are critical sector of the economy is of great importance for Turkey. In this context, thanks to this new source, we are pleased to continue to provide increasing benefits to the Turkish economy through the cooperation with Proparco. We believe that the awareness of energy and resource efficiency in agriculture will rise and a significant contribution will be made to sustainable growth by providing our farmers and the agriculture industry with access to finance.”