TSKB Obtains a Total of EUR 600 million under the Financing Adaptation for Growth Project
Under the Financing Adaptation for Growth Project, TSKB signed the second tranche of the EUR 300 million loan agreement signed in October 2025 with International Financial Institutions under the partial guarantee of the International Bank for Reconstruction and Development (IBRD), a member of the World Bank Group, and the counter-guarantee of the Republic of Türkiye Ministry of Treasury and Finance. The project aims to increase Türkiye's climate resilience for sustainable development, and the total project size reached EUR 600 million including the new funding of EUR 300 million.
Leading Türkiye's sustainable development journey for 76 years, TSKB (Industrial Development Bank of Türkiye) has taken yet another strategic step towards strengthening its capacity to combat and adapt to climate change. As part of the second phase of the project, which was implemented under partial guarantee by the International Bank for Reconstruction and Development (IBRD), a member of the World Bank Group, and the counter-guarantee of the Republic of Türkiye Ministry of Treasury and Finance, a new loan agreement of EUR 300 million was signed with BNP Paribas, Standard Chartered Bank and ING Bank. This step took the total volume of the project to EUR 600 million as targeted.
The funds will be channeled to local firms across Türkiye to render them more resilient, competitive and adaptive to climate risks. In addition to transferring funds, the deal is expected to leverage the channeling of private capital to climate-focused investments for sustainable development.
Scientific Approach with AdapTool
Developed based on TSKB’s development banking experience and marking a first in the field of climate adaptation, AdapTool emerges as a key component of the deal. This tool can make in-depth analyses based on sectors and locations, analyzes the vulnerabilities of companies against climate change and offers them specific suggestions for action items. Thus, the Bank supports not only the current needs of the companies it finances but also their strategies for protection against future climate risks through scientific methods. In this way, companies are becoming more resilient to climate change, reducing their vulnerability to climate risks, while sustainably advancing their value-added production and services.
TSKB CEO Ozan Uyar said, "We are happy to have reached our target of EUR 600 million by realizing the second tranche of this project we initiated with the World Bank, enabling enhanced climate resilience of the beneficiary companies. This fund is a concrete indicator of the confidence of International Financial Institutions in our bank and our country, and it will enable us to accelerate the climate adaptation process of our national industry. With AdapTool, which we applied to companies from the first phase of the project, we have already begun to see the positive impact on the climate resilience of the companies. Through innovative tools such as AdapTool, we offer technical guidance to the transformation journey of companies and continue to make a substantial contribution to the climate and development goals of our country."
“This second tranche of the Financing Adaptation for Growth Project is a key instrument to mobilize private capital for climate resilience. By leveraging this guarantee to strengthen the resilience of businesses, we are both safeguarding livelihoods and ensuring sustainable economic growth, while preserving existing jobs and creating new ones.” said Humberto Lopez, World Bank Country Director for Türkiye.
“Building on our first-of-its-kind collaboration with TSKB and IBRD, BNP Paribas is proud to once again set the standard in sustainable finance with this second tranche of financing. This funding supports climate action and job creation while making Türkiye’s economy more resilient and competitive. This transaction reflects the long‑standing relationship between BNP Paribas and TSKB and our shared focus on delivering tailored financing solutions that support sustainable growth and economic resilience.” said Yasser Henda, Global Head of Export Finance, BNP Paribas
“We are very pleased to build on our successful cooperation with TSKB through this repeat financing, bringing the total to EUR 600 million,” said Bart Ponsioen, Global Deputy Head of Structured Export Finance at ING. “ING is acting as Co-Coordinator and once again as Documentation Bank, reinforcing our close collaboration with both TSKB and IBRD. Supporting impactful investments with a meaningful economic and sustainability purpose remains a key priority for us, and we are proud to contribute to TSKB’s development agenda. We look forward to continuing this strong partnership going forward.”
Mr. Faruq Muhammad, Global Head, Development and Agency Finance said “We are proud to support TSKB (Industrial Development Bank of Türkiye) in its second tranche of a World Bank guaranteed transaction. This transaction will help expand access to finance for local companies and make them more resilient and adaptive to climate risks. By directing capital to these businesses, we are helping to support economic growth and support employment opportunities. We are pleased to further strengthen our relationship with the World Bank Group by mobilising private capital and delivering innovative financing with a positive impact on local communities.”
