125 Million Dollars Credit from KfW to TSKB

Turkey’s first private development and investment bank TSKB signed ‘Credit Agreement’ with KfW for supporting the projects launched in renewable source-based energy production and energy efficiency issues.

Adopting the environment and sustainable banking concepts as a part of its management philosophy, Industrial Development Bank of Turkey (TSKB) signed on 4th December 2012 “Credit Agreement” with German Development Bank (KfW). With this agreement, TSKB obtained 125 million Dollars of credit from KfW.

This “Credit Agreement” signed in Ankara between TSKB and KfW was put into effect through the guarantee given by TR Prime Ministry Undersecretariat of Treasury.

The credit amount obtained from KfW will be used for financing the fixed capital investments to be made by the private sector companies operating throughout Turkey with regard to renewable source-based energy production and/or energy efficiency issues. With this credit amount, TSKB will continue the support it is already providing for the investments aimed at renewable energy sector and energy efficiency.