SDG-Focused Investment Loan of USD 80 Million from TSKB to Sefine Shipyard

6 February 2023
- 3 min. Read

Continuing to support investments that make tangible contribution to Türkiye’s sustainable development goals, TSKB provided Sefine Shipyard with a UN Sustainable Development Goals (SDG)-focused investment loan of USD 80 million. By financing the construction of the company’s new floating dry dock, the Bank is directly contributing to 3 of the 17 Sustainable Development Goals.

TSKB (Industrial Development Bank of Türkiye), which has been a pioneer in the field of sustainable banking in Türkiye for 30 years, continues to unceasingly increase and improve its impact on green and inclusive development. With 93% of its loan portfolio consisting of investments linked to the UN Sustainable Development Goals (SDGs), the bank continues to support the environmental and social development-oriented investments of companies in Türkiye. In this context, TSKB has signed the first SDG-focused investment loan agreement of 2023 with Sefine Shipyard, financing the company’s new floating dry dock construction in line with sustainable development goals with a loan of USD 80 million.

The loan provided to Sefine Shipyard, which operates in new shipbuilding, repair, maintenance and ship conversion businesses, to support the company’s investment plans to increase the maintenance and repair capacity of the shipyard and to build a new floating dry dock that can accommodate ships of increasing size, will be repaid with a 4-year maturity. The positive impact generated by the financing of the floating dock will directly contribute to SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth) and SDG 9 (Industry, Innovation and Infrastructure). 

The first cooperation between Sefine Shipyard and TSKB started in 2017, when the company was granted a loan to finance the investment in a pier and its first floating dry dock.

Sefine Shipyard’s gender equality practices affirmed by Escarus

At the loan signing ceremony, Koloğlu Holding and Sefine Shipyard were presented with the Gender Equality Program Certificate (CEPS) by Escarus, TSKB’s subsidiary specializing in sustainability consultancy.

The approaches and practices of both organizations in promoting gender equality in business life were first measured with the Gender Equality Measurement and Assessment Tool (CEODA) developed by Escarus with contributions from TSKB. With CEODA, the current situation of the holding and the company was analyzed under the headings of “commitment of senior management”, “transparent human resources processes”, “equal opportunities in working conditions”, “work-life balance”, “prevention of harassment in the workplace” and “raising awareness” and compared with national and international best practices.

During the project process, Escarus evaluated Koloğlu Holding and Sefine Shipyard in terms of gender equality, provided support in areas deemed to be open for improvement, and informed employees about the steps that can be taken in terms of gender equality and equal opportunities through the trainings it organized. Following the final evaluations, companies were awarded Gender Equality Certificates.