The financing will allow the Turkish firm to increase lending to its small and medium enterprises (SMEs).

Of the total amount, $40m will be lent from IFC’s own resources, and the remaining $20m will come from its new managed co-lending portfolio program.

IFC said SMEs make up around 90% of Turkey’s economy and helping them become more energy efficient will help lower carbon emissions and increase eco-friendly production processes.

As of 2014, IFC has provided about $600m in financing for such investments.

IFC regional head for financial institutions group for Europe, Middle East, and North Africa Edward Strawderman said: "There is still a big gap in Turkey between the substantial potential of sustainable energy projects and their realization.

"Our partnership with Finans Leasing aims to address this and help small and medium enterprises use Turkey’s rich renewable energy resources to mitigate climate change."

IFC, a member of the World Bank Group, has supported private sector development in Turkey for 50 years.

Turkey is the third-largest country in IFC’s worldwide portfolio with a $4.3bn outstanding portfolio.