TSKB and EBRD Signs Türkiye's First Loan within the Framework of Green Economy Financing Facility

15 April 2022
- 3 min Read

Within the framework of the Green Economy Financing Facility of a total of EUR 53.5 million provided to TSKB by EBRD, green transformation-oriented technologies and services throughout Türkiye, including energy efficiency and renewable energy, will be financed.

TSKB (Industrial Development Bank of Türkiye) and EBRD (European Bank for Reconstruction and Development) signed a new loan agreement that supports green economy. As part of the Green Economy Financing Facility (“GEFF”) worth EUR 53.5 million in total offered to TSKB by EBRD, technologies and services that boost green economy in Türkiye will be financed. The loan to be used under the GEFF will also be supported by the Clean Technology Fund.

The loan aims to support green economy investments, including energy efficiency and renewable energy, made by companies throughout Türkiye in the fight against climate change.

Commenting on the loan agreement with EBRD, TSKB CEO Murat Bilgiç said, “To ensure the effective management of climate-related risks and opportunities, it is critical for the real sector to transition to sustainable business models, which we call the green transformation. In this transition, impact-oriented development finance tools enable an inclusive transformation for all sectors. We, as TSKB, play an effective role in this field with our financing models based on sustainability criteria. We are happy to provide an additional source for sustainable investments with this new loan agreement that we signed with our esteemed business partner EBRD, which reinforces our decisive steps towards green economy.”

Arvid Tuerkner, EBRD Managing Director for Türkiye, said: “The EBRD is very pleased that TSKB will be the first recipient of EBRD funding under the new innovative GEFF framework which, on top of providing green finance to businesses, also aims to improve Turkish financial institutions` corporate climate governance practices and to increase the sustainability of their operations.”