EBRD partners with TSKB for a green boost

ISTANBUL

The European Bank for Reconstruction and Development (EBRD) is providing a 100-million euro loan to Türkiye Sinai Kalkınma Bankasi (TSKB) for on-lending to sub-borrowers that will invest in energy efficiency, renewable energy and climate-resilience measures.

The loan comes under the EBRD’s Türkiye Green Economy Financing Facility II (GEFF II), which aims to build on the success of the previous facility, contributing to the deployment of green finance in the country, said the development bank.

Proceeds of the loan will be dedicated to financing green economy investments in a gender-inclusive way, it added.

A green champion in the banking sector, TSKB is committed to many of the well-known international climate initiatives such as the Task Force on Climate-Related Financial Disclosures, the Net-Zero Banking Alliance, the U.N. Principles for Responsible Banking, and the Science Based Targets Initiative, according to EBRD statement.

TSKB is a listed private sector development and investment bank with a mandate to encourage sustainable and inclusive private industrial development.

The EBRD is among Türkiye’s key investors, with more than 20 billion euros committed through 453 projects and trade finance limits since 2009, most of which has been in the private sector.