Circular economy financing package from Vakıfbank and Zero Waste Foundation
A new financing package with a volume of 10 billion TL has been launched to support the transition of companies and public institutions to the circular economy.
The Circular Value Financing Package, implemented in cooperation with Vakıfbank and the Zero Waste Foundation, will provide investment and working capital support to businesses looking to transform their production and business processes.
Cooperation and Signing Ceremony
It was announced that the Circular Value Financing Package has been launched in cooperation with Vakıfbank and the Zero Waste Foundation. According to statements made by the two organizations, the agreement regarding the cooperation was signed between VakıfBank General Manager Osman Arslan and Zero Waste Foundation President Samed Ağırbaş.
Scope of the Financing Package
Within the scope of the package developed to support the transition of companies and public institutions to the circular economy, different financing options will be offered for the investment and working capital needs of businesses.
Financing of up to 50 million TL with a maturity of up to 60 months for investment loans, up to 120 months for large-scale project financing, and up to 10 million TL with a maturity of up to 24 months for working capital needs can be provided.
Credit Guarantee Fund Support
A guarantee support of 3 billion TL will also be provided by the Credit Guarantee Fund in order to strengthen access to finance, especially for SMEs, in their circular transformation investments.
Target Sectors and Volume
Businesses operating in many sectors such as manufacturing industry, plastics, packaging, textiles, and recycling, as well as municipal affiliates, will be able to benefit from the financing package.
With the package, it is aimed to reach over 500 institutions and projects in the first phase and create a financing volume of 10 billion TL.
Criteria and Evaluation Processes
The condition of reducing primary raw material usage and improving energy efficiency will be required in investments. While the Zero Waste Foundation will evaluate the compliance of the projects, credit processes will be carried out in accordance with VakıfBank's principles.