21.09.2015

TSKB has secured from IFC a USD 75 million loan for the purpose of financing renewable energy, resource and energy efficiency investments

TSKB (Industrial Development Bank of Turkey) has secured from the International Finance Corporation (IFC) a USD 75 million loan for the purpose of financing renewable energy, resource and energy efficiency investments.

The loan is expected to help develop sustainable finance and energy investment projects across all sectors in Turkey, and improve the environment by cutting greenhouse gas emissions. It will also help reduce Turkey’s dependence on fossil fuel and natural gas imports.

“With the $75 million from IFC, our total loan volume for sustainable projects in Turkey reached $630 million last year,” said Ozcan Turkakin, Board Member and CEO of TSKB. “We will continue to extend our financing and advisory services to support investments in renewable energy, energy and resource efficiency.”

Edward Strawderman, IFC Regional Head for Financial Institutions Group for Europe, Middle East, and North Africa, said: “TSKB is a long term partner for IFC in addressing the needs for climate-related investments in Turkey, and boosting economic development. We hope to encourage more Turkish banks to provide much-needed renewable energy, resource and energy efficiency financing to local companies.”

TSKB is one of Turkey’s leading providers of energy efficiency finance, leading the way for the country’s other banks, and winning the FT/IFC Sustainable Bank of the Year award in Southern Europe three times to date.

Türkiye Sınai Kalkınma BankasıTurkey’s comprehensive environmental portal cevreciyiz.com is supported by TSKB.