The Largest Financing Collaboration to Date Established Between TSKB and JBIC

TSKB has signed a new USD 350 million loan agreement with the Japan Bank for International Cooperation (JBIC). The loan is provided under the guarantee of the Republic of Türkiye’s Ministry of Treasury and Finance and will be used to finance renewable energy, energy efficiency, water and waste management investments as well as other green investments to reduce greenhouse gas emissions across the country.  TSKB CEO Ozan Uyar noted that the facility represents the largest loan agreement ever executed between TSKB and JBIC, and said: “We are pleased to contribute to Türkiye’s sustainable development goals and its transition to a low-carbon economy through the JBIC GREEN 4 facility, as the country prepares to host COP31.”

Continuing its support for Türkiye’s sustainable development and green transformation, TSKB has added a new chapter to its long-standing partnership with JBIC. Following the GREEN loan agreements implemented with JBIC in 2015, 2022, and 2023, GREEN 4 loan agreement amounting USD 350 million has been signed. The loan, provided under the guarantee of the Republic of Türkiye’s Ministry of Treasury and Finance, will be used to finance renewable energy, energy efficiency, water and waste management investments, as well as other green investments that contribute to reducing greenhouse gas emissions across Türkiye. In addition to JBIC, MUFG Bank, Ltd. is also supporting the agreement as the agent bank.

TSKB began its activities in the Japanese capital markets through Samurai Bond issuances and strengthened its presence by signing its first loan agreement with JBIC in 2000 to support companies affected by the 1999 Marmara earthquake. This step marked the beginning of a strategic partnership between the two institutions. The strong cooperation between TSKB and JBIC has since continued to grow and deepen, with a focus on sustainable development. In this context, the first GREEN loan agreement amounts to USD150 million, was provided in 2015 to support reducing greenhouse gas emissions in Türkiye. This was followed by GREEN 2 loan agreement amounting to USD 220 million in 2022. After the devastating earthquakes in the eastern and southeastern regions of our country in 2023, the USD 200 million GREEN 3 loan agreement was signed as a reflection of the longstanding partnership between the two institutions and the solidarity between Türkiye and Japan. Through this financing, companies affected by the earthquake were supported in their renewable energy and energy efficiency investments.

With the GREEN 4 agreement, which follows the GREEN loan agreements signed in 2015, 2022, and 2023, total financing provided by JBIC to TSKB over the past 10 years has reached approximately USD1.2 billion, and TSKB will continue to firmly support Türkiye’s sustainable development and its transition to a low-carbon economy.

Commenting on the loan agreement signed with JBIC, TSKB CEO Ozan Uyar said: "We are delighted to further our strategic partnership with JBIC, which we have successfully maintained since 2000, to a higher level through this new agreement of USD 350 million, building on the long-standing and strong history of cooperation between Türkiye and Japan. This GREEN 4 loan, the largest loan ever obtained from JBIC, is aligned with our country's energy policies, the 2053 net-zero emissions target and its transition targets to a low-carbon economy.

Through this fund, we will further expand our contribution to our country's sustainable development goals by supporting a wide range of green investments from renewable energy to water management. Türkiye, under its Nationally Determined Contribution (NDC) within the framework of the Paris Agreement, aims to reduce greenhouse gas emissions by 41% by 2030 compared to the current trajectory, while prioritizing the expansion of renewable energy capacity, energy efficiency, and green industrial transformation.

With this financing, we will further expand our support for green investments across a wide range of areas, from renewable energy to water and waste management, thereby contributing more strongly to our country’s sustainable development goals. As Türkiye prepares for COP31, we are pleased to add value through the JBIC GREEN 4 loan to the country’s sustainable development objectives and its transition to a low-carbon economy. Through this new financing, we aim to support Türkiye’s priorities under the COP31 Action Agenda, particularly in clean energy transition, green industrialization, and climate action implementation mechanisms. With this new agreement we have signed with our valued partner JBIC under the guarantee of our Ministry of Treasury and Finance, we have taken another strong step for our country on the path of the sustainable development. In this regard, we extend our sincere gratitude to the Ministry of Treasury and Finance for their valuable support for our GREEN 4 loan."

JBIC Director General of New Energy and Power Finance Department II Hiroyuki Suzuki made the following remarks on this agreement: "This GREEN 4 loan reflects the longstanding and close partnership between JBIC and TSKB, which has been developed based upon the two institutions’ continuous cooperation. JBIC highly appreciates TSKB’s important role in supporting sustainable development in Türkiye through its financing activities. This loan is expected to contribute to the promotion of renewable energy, energy efficiency, and other environmentally sustainable investments in the country, enhance the country’s energy security, and create opportunities for collaboration with Japanese companies’ expertise and technology. JBIC, as Japan’s policy-based financial institution, will continue to work closely with TSKB to support Türkiye’s efforts toward sustainable development and to further strengthen the economic relationship between Japan and Türkiye."