News

Green credit line approved for TSKB

Published

October 21, 2015

Comments

comments icon

0

Share

Published:

October 21, 2015

Comments:

comments icon

0

Share

International Finance Corporation, a member of the World Bank Group, said it was providing a USD 75 million (EUR 66.28 million) loan to the Industrial Development Bank of Turkey (TSKB), the country’s largest private investment and development bank, to boost lending for renewable energy and resource efficiency projects.

The loan is expected to help develop sustainable finance and energy investment projects across all sectors in the country, and cut greenhouse gas emissions. It will also help reduce Turkey’s dependence on fossil fuel and natural gas imports, IFC’s press release said.

With the line from IFC, total TSKB’s loan volume for sustainable projects in Turkey reached EUR 556.8 million last year, said Özcan Türkakın, board member and chief executive. With this project, IFC’s climate change–related finance through financial institutions in Turkey, including mobilization, surpasses EUR 880 million, the statement said. IFC has supported private sector development in Turkey for 50 years. With a portfolio of EUR 3.8 billion, Turkey is its third-largest country exposure, the press release adds.

Related Articles

bih natural gas vedran lakic pipelines

Lakić: Natural gas is key energy source for future

13 February 2025 - Vedran Lakić stressed the importance of natural gas for the future of the energy sector in BiH, keeping in mind that the coal phaseout is on the agenda

Data centers threaten derail Europe energy transition

Data centers threaten to derail Europe’s energy transition

13 February 2025 - The expansion of data centers in the EU and UK can strongly increase emissions if they rely even partly on fossil fuels, a new report shows

bih nova alumina waste energy

BiH’s Nova Alumina to install energy facility fueled by waste to replace coal

13 February 2025 - Aluminum and cement industry supplier Nova Alumina plans to build an energy facility that would use alternative fuels, to replace coal

Croatia nuclear power plants small modular reactors

Croatia mulls nuclear power plants including small modular reactors

13 February 2025 - Croatia founded a workgroup for analysis and legislation that could enable the introduction of nuclear energy in the country