European Investment Bank issues € 150 million Environment and Energy Framework Loan to TSKB

14 December 2009
- 2 min Read

The agreement of the € 150 million loan procured by TSKB, Turkey’s first carbon neutral bank holding an ISO 14001 Certificate, from the European Investment Bank under the guarantee of the Turkish Undersecretariat of Treasury was signed in Luxembourg on December 10, 2009.

An agreement has been signed for an Environment and Energy Framework Loan of € 300 million to be issued to the Industrial Development Bank of Turkey (TSKB) and the Development Bank of Turkey by the European Investment Bank (EIB), the European Union’s finance institution providing long-term financing to public and private institutions.

The loan is to be used to finance renewable energy, energy efficiency and environmental pollution prevention projects as well as other projects with positive effect on the environment to be conducted all around Turkey.

Commenting on the loan procured under the guarantee of the Turkish Prime Ministry’s Undersecretariat of Treasury, TSKB General Manager Halil Eroğlu said: “Having considerably widened our energy portfolio within the last 5 years, we signed the largest number of projects with the improvement of our energy portfolio and also with the environment and renewable energy loans we supplied. The added value we have created through such contribution attracts significant interest and support internationally. In this respect, we intend to continue supporting renewable energy investments in Turkey using the € 150 million loan procured from the EIB.”