The European Investment Bank has signed €200 million in new financing with two Turkish lenders to fund renewable energy and energy efficiency projects by Turkish businesses.
The financing is split into two €100 million operations with the Development and Investment Bank of Turkey (TKYB) and Türk Eximbank, the EIB informed on Wednesday.
The two banks will on-lend the money to small and medium-sized enterprises (SMEs) and mid-cap companies for investments in areas such as clean power and reducing energy use.
Turkish Treasury and Finance Minister Mehmet Şimşek said the funding would help businesses invest in clean energy, improve efficiency and strengthen competitiveness.
EIB Vice-President Robert de Groot said the agreements marked a new phase of cooperation with Turkey and would allow the bank to reach companies across the country through local lenders’ networks.
Visit to earthquake-hit Hatay
The EIB said its delegation visited Hatay, in Turkey’s southernmost province, one of the regions hardest hit by the 2023 earthquakes.
It emphasised that the bank is supporting the reconstruction of drinking water and wastewater infrastructure there through a €400 million operation, as part of broader EU support.
TKYB Chief Executive Ibrahim Halil Öztop said the bank would continue mobilising international resources for renewable energy and energy efficiency investments.
Türk Eximbank Chief Executive Ali Güney said the agreement would support exporters in meeting environmental regulations in key export markets, particularly within the EU, and that the bank’s total international funding dedicated to “green transformation” had reached $1.9 billion after the transaction.
