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By renewing its partnership with İş Bank, Proparco supports the agricultural sector in Turkey
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Proparco has granted a new 25 million euro credit line to Türkiye İş Bankası (İş Bank). Turkey's leading private bank, with a balance sheet total of more than 69 billion euros, İş Bank is a historical partner of Proparco, the first credit line between the two institutions having been signed nearly 10 years ago.
Intended to support the development of the bank's credit activity in the agricultural sector, this new line will allocate a significant portion of the funds to finance investments that enable the efficient use of energy resources in this sector (fuel savings with the replacement of tractors, water savings with drip irrigation equipment, etc.).
"Through this new financing, our cooperation with Proparco will support agriculture and agro-industry, which are critical sectors of the Turkish economy. We are pleased to increasingly support this essential sector of the country's economy. Raising awareness of energy and resource efficiency in agriculture will contribute to development and sustainable growth. "said Gamze Yalcin, Executive Vice President of İş Bank.
Proparco's Regional Director for Turkey, Central Asia, Caucasus and South-East Europe, Jean-Gabriel Dayre, added: "We are very proud to renew our longstanding partnership with İş Bank thanks to this 10-year credit line. İş Bank is one of Turkey's leading financial institutions with nationwide coverage. With this line of credit focusing on energy and resource efficiency in the agricultural sector, we are pleased to support İş Bank's commitment to fill a critical financing gap in this sector. »