10 Billion Liras of Financial Support for Zero Waste and Circular Economy Transformation
In line with Turkey's circular economy and zero waste targets, a massive loan package has been launched for industry and local governments.
To support Turkey's zero waste and circular economy transformation, a financing package with an initial volume of 10 billion TL has been implemented through a collaboration between the Zero Waste Foundation and VakıfBank.
Purpose of the Financing Package
A new step has been taken in line with the zero waste vision carried out under the leadership of President Recep Tayyip Erdoğan and the auspices of Emine Erdoğan. This partnership between the Zero Waste Foundation and VakıfBank aims to support businesses in transitioning to sustainable production models.
Scope and Targets
Within the scope of the cooperation, it is targeted to reach over 500 institutions and projects in the first phase, creating a total financing volume of 10 billion TL. This step will provide a very significant economic contribution to Turkey's green transformation process.
Loan and Maturity Conditions
The prepared financing package offers up to 50 million TL in investment loans with maturity options of up to 60 months. For working capital needs, financing support of up to 10 million TL with maturity options of up to 24 months is provided.
Eligible Sectors
The manufacturing industry, plastics, packaging, textiles, automotive supply industry, machinery, electronics, retail, waste management, and recycling sectors will be able to benefit from the support. Additionally, SMEs in organized industrial zones and municipal subsidiaries have been included in the scope.