TKYB and World Bank sign $630 million green finance deals

The Development and Investment Bank of Turkey (TKYB) and the World Bank have signed two additional financing agreements totaling approximately $630 million to support Turkey’s green transformation. These funds are backed by repayment guarantees from the Ministry of Treasury and Finance.

The first agreement provides an additional €200 million for the project aimed at accelerating the market transition for distributed energy. This expansion will include investments in distributed wind energy, alongside existing focuses on distributed solar energy and battery energy storage systems.

The second agreement provides approximately $400 million for the Turkey Industrial Emission Reduction Project. This funding is intended to help industrial organizations transition to cleaner production technologies, improve energy and resource efficiency, and invest in end-of-pipe treatment technologies to reduce air emissions. These initiatives align with Turkey’s goal of reaching net-zero emissions by 2053.