Energy Efficiency

IFC supports green bond to mobilize private funds

Published

May 13, 2016

Country

Comments

comments icon

0

Share

Published:

May 13, 2016

Country:

Comments:

comments icon

0

Share

International Finance Corporation, member of the World Bank Group, said it invested USD 50 million (EUR 44.7 million) in a green or sustainable bond issue of the Industrial Development Bank of Turkey (TSKB). This is the first such security issued from Turkey in international debt capital markets.

The issue size of the bond is EUR 268.2 million. The proceeds will be used for private sector investments in renewable energy, energy efficiency, and other areas that reduce greenhouse gas emissions. TSKB continues to enhance its focus on investing in sustainable growth, energy and resource efficiency, and renewable energy investments, said Suat Ince, chief executive of the country’s first privately-owned development and investment bank.

Green bonds have been gaining popularity as an effective instrument for raising private capital for climate change mitigation and adaptation efforts. IFC’s green bond programme helps funnel private investment into low-carbon projects and, as of December, IFC had issued close to EUR 4.47 billion in green bonds.

“Helping Turkey reach its climate change goals is a priority for IFC,” said Manuel Reyes-Retana, the global lender’s regional head of financial institutions group in Europe, Middle East, and North Africa. “As a pioneer in developing the green bonds market globally, we welcome our long-term partner TSKB’s efforts to launch the first ever green bond in Turkey and hope this will set an example and encourage other institutions to participate in this market.”

Tags: ,

Related Articles

Igor Andjelkovic Country Lead Serbia Hitachi Energy

Hitachi Energy: Game-changing solutions for a sustainable energy future

25 June 2025 - With its system solutions, products, and services, Hitachi Energy contributes to sustainable energy and a better future, Igor Anđelković said at BEF 2025.

slovenia smart grids investments distribution grid

Slovenia’s EUR 150 million smart grid leap

18 June 2025 - The five electricity distribution firms in Slovenia will invest more than EUR 150 million by the end of March 2026

esma sahin scadawatt bef 2025

ScadaWatt seeks partners in Serbia to deploy its energy digitalization systems

10 June 2025 - ScadaWatt, a bronze sponsor of Belgrade Energy Forum 2025, provides remote monitoring and control systems for solar power plants.

serbia wind farms 1 GW strategic partner EPs investments

Serbia shelves plan for strategic partnership for 1 GW in wind farms

09 June 2025 - Serbia has revised the baseline of the plan for the development of energy infrastructure and energy efficiency, adopted in 2023