A New EUR 250 Million Climate Finance Deal Between TSKB and the KfW Development Bank
TSKB has signed a new loan agreement in the amount of EUR 250 million with the KfW Development Bank. This facility extended under the guarantee of the Ministry of Treasury and Finance of the Republic of Türkiye will be used, across Türkiye, to support climate finance-themed investments and projects that will strengthen the economic cooperation between Türkiye and Germany. Commenting on the agreement, TSKB CEO Ozan Uyar has stated that they have a strong cooperation with KfW dating back 56 years and added: "We are very pleased to strengthen our contribution to the green and technological transformation of our country and to help enhance the economic cooperation between Türkiye and Germany thanks to this agreement."
TSKB (Industrial Development Bank of Türkiye) signed a EUR 250 million Climate Finance and Economic Cooperation Loan Agreement with the KfW Development Bank. Through the funds provided under the guarantee of the Ministry of Treasury and Finance of the Republic of Türkiye, investments related to renewable energy, energy efficiency, energy storage, climate change adaptation, climate industries, circular economy, environmental products and other climate-related investments on climate finance will be financed across Türkiye. Additionally, investments that will strengthen Türkiye's economic cooperation with the European Union, particularly with Germany, will be prioritised. TSKB is expanding its contribution to low-carbon and climate-resilient development goals with the help of this facility.
Reflecting on the agreement, TSKB CEO Ozan Uyar said: "We are very pleased to consolidate our 56-year strategic cooperation with KfW, which started in 1969, with a new funding that supports greenhouse gas emission reduction goal. With this EUR 250 million facility that we brought to our country, we will provide financing for climate-friendly investments in a wide range of areas from renewable energy to circular economy and energy storage to environmental products. Through this resource, we will strengthen the economic cooperation between Türkiye and Germany, increasing our contribution to the green transformation of our country. In this way, we believe that we have taken another important step towards achieving Türkiye's Sustainable Development Goals."
Dr. Klaus Müller, Director for South-East Europe and Türkiye, KfW Development Bank made the following statement regarding the new collaboration between TSKB and KfW, “Our 56-year partnership with TSKB enters a new and strategic phase with this agreement. This facility will support sustainable growth, decarbonization and accelerate Türkiye’s green transition by enabling high-impact projects while fostering German - Turkish economic interests mutually. We extend our sincere gratitude to the Ministry of Treasury and Finance of the Republic of Türkiye for its support and the guarantee, and we look forward to continuing this partnership with the same confidence and commitment in the years ahead.”
