10 billion lira financing package for the transition to the circular economy

In line with Turkey's 2053 Net Zero Emission target, an important cooperation was realized between Vakıfbank and the Zero Waste Foundation. A total of 10 billion TL worth of Circular Value Financing Package was made available to support the transition of companies and public institutions to the circular economy.

Details of the Financing Package

VakıfBank General Manager Osman Arslan announced to the public that they will provide 10 billion TL in financing to over 500 institutions and projects in the first stage.

Within the scope of the announced financing package, investment loans offer up to 50 million TL and maturity options of up to 60 months.

Working Capital Support

Under the framework of the package, credit facilities under favorable conditions have also started to be allocated for working capital needs.

Accordingly, financing opportunities of up to 10 million TL with maturities of up to 24 months are provided for working capital needs.

Sectors to Benefit

Many sectors will be supported, primarily the manufacturing industry, plastics, packaging, textiles, automotive supply industry, and machinery.

Enterprises operating in at least 10 different sectors, such as electronics, retail, waste management, and recycling, will be able to benefit from the package.

Institutions Included in the Scope

SMEs and industrialists operating in organized industrial zones have the right to benefit from the financing opportunity.

Waste management companies, municipal affiliates, and businesses developing circular business models are also included within the scope.

Call from the Zero Waste Foundation

Zero Waste Foundation President Samed Ağırbaş emphasized that the role assumed by the financial sector in transformation processes is critically important.

Following this step, Ağırbaş called on other banks to provide financing for the circular economy.