TSKB Signed EUR 50 Million Loan Agreement with OPEC Fund
In line with its sustainable and inclusive development goals, TSKB (Industrial Development Bank of Türkiye) has secured a loan of EUR 50 million from the OPEC Fund for International Development. The financing will be used to support investments in renewable energy, energy efficiency, climate change adaptation, climate-related equipment production and circular economy. This financing provided through an on-lending arrangement by the Republic of Türkiye Ministry of Treasury and Finance marks the first collaboration between TSKB and the OPEC Fund.
TSKB (Industrial Development Bank of Türkiye) continues to expand its multifaceted contribution to the green transformation of Turkish companies. Most recently, the Bank has secured a total loan of EUR 50 million from the OPEC Fund for International Development, through an on-lending arrangement with the Republic of Türkiye Ministry of Treasury and Finance.
This loan, marking the first agreement with the OPEC Fund, aims to support investments in renewable energy, energy efficiency, climate change adaptation, climate-related equipment manufacturing and the circular economy. By securing this financing, TSKB not only diversifies its sustainable funding sources but also makes a significant contribution to Türkiye's green transformation goals in combating against the climate crisis.
Commenting on the agreement, TSKB CEO Murat Bilgiç said: "We are very pleased with this cooperation, which marks our first loan relationship with the OPEC Fund. This transaction will enable us to diversify our sustainable funding sources and make a significant contribution to our country’s green transformation in line with its national emissions reduction and sustainable infrastructure targets. The secured loan aligns with our climate goals and supports the sustainable development and climate change adaptation priorities outlined in Türkiye's Climate Change Mitigation and Adaptation Strategy and Action Plans as well as the 2053 Long Term Climate Strategy published at COP29. We hope this resource, aimed at financing projects that contribute to a low emission-based and resilient economy, will bring great benefits to our country."
OPEC Fund President Abdulhamid Alkhalifa said: "This milestone partnership with TSKB underscores our commitment to advancing climate action and sustainable development in Türkiye. By channeling funding into renewable energy, energy efficiency, and climate-resilient industries, we aim to support Türkiye’s transition to a low-emission economy and its net zero target by 2053, while fostering inclusive and green economic growth."
