Turkish Residential Energy Efficiency Financing Facility (TuREEFF) Turkish Residential Energy Efficiency Financing Facility (TuREEFF)

As a result of new building energy efficiency legislation and the European Union Energy Performance of Buildings Directive, Turkey’s residential building sector needs some support. As the country transitions toward energy conservation and renewable energy, the Turkey Residential Energy Efficiency Financing Facility (TuREEFF) is poised to help. TuREEFF was developed by the European Bank for Reconstruction and Development (EBRD) and supported by the Clean Technology Fund (CTF) and the European Union (EU). TuREEFF provided up to US$ 350 million to four local banks, Garanti BBVA, Şekerbank, Türkiye İş Bankası and Yapı Kredi Bankası, funds which were then on-lent to households, construction companies and vendors of energy-saving household equipment.