Photo: GGF
The Green for Growth Fund (GGF) signed a deal for its second direct investment in Türkiye İş Bankası, the largest private sector bank in Turkey.
The landmark transaction is part of a series of collaborations with financial institutions in Turkey. The Green for Growth Fund congratulated İşbank’s financial institutions department team – Ebru Özşuca, İmge Hilal Soyluoğlu Canlı and Serhan Şişman – as well as the Finance in Motion’s country team Oğuz Bardak and Burcu Karpuz, for the establishment of the partnership.
The investment, a five-year green bond issued under Türkiye İş Bankası’s Sustainable Finance Framework, is aimed at supporting Turkey’s green transition, the fund said. It aligns with GGF’s mission to drive sustainable finance in the region, according to the announcement.
The Green for Growth Fund invested in Türkiye İş Bankası’s green bond issue
GGF, advised by Finance in Motion, was initiated as a public-private partnership in December 2009 by Germany’s KfW Development Bank and the European Investment Bank. It received financial support from the European Commission, the German Federal Ministry for Economic Cooperation and Development, the European Bank for Reconstruction and Development and the Austrian Development Bank (OeEB).
The fund finances renewable energy projects, corporates and municipalities, and engages in partnerships with financial institutions for green investments.
The GGF’s Technical Assistance Facility maximizes the fund’s investment impact through support for capacity building at local financial institutions and partners.
Finance in Motion focuses on sustainable development in emerging and developing countries. It structures, manages and advises impact investment funds and brings together public and private investors.
The company’s aim is to combat climate change, strengthen biodiversity conservation, promote the sustainable use of natural resources and improve living conditions and economic opportunities in the target countries.
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