EBRD and DenizBank Fund Renewable Energy and Green Buildings in Türkiye
Highlights
- EBRD invests US$100 million in DenizBank green bond for renewable energy and green buildings.
- US$270 million bond issuance will catalyse Türkiye’s sustainable finance market.
- DenizBank channels funds to low-carbon economy projects, which combines economic growth with environmental sustainability.
The European Bank for Reconstruction and Development (EBRD) has invested US$100 million in a green bond issued by DenizBank in Türkiye.
The total bond issuance is approximately US$270 million, with proceeds about to fund green projects in the private sector.
They include renewable energy initiatives, energy efficiency schemes, and green buildings, which smoothens the country’s transition to a low-carbon economy.
Read More: Green Bonds Explained: Definition, Types, Benefits & Risks
The green bond comes under DenizBank’s Sustainable Finance Framework, which complies with the International Capital Market Association’s Green Bond Principles.
By issuing these bonds, DenizBank aims to channel resources into climate-conscious investments and provide long-term financing for projects that help reduce climate change risks.
The EBRD has described its participation as a step to foster growth in Türkiye’s green finance market. Through this investment, the bank seeks to attract international capital and encourage other Turkish banks to expand their sustainable lending portfolios and explore innovative green finance products.
Oksana Yavorskaya, the EBRD’s Deputy Head in Türkiye, said that the project offers an example of how diverse funding instruments can support green ambitions in the country.
From DenizBank’s perspective, issuing green bonds is part of its corporate priority to offer financial solutions that combine economic development with environmental sustainability.
Also Read: What Are ESG Bonds? Benefits & Future of Green Investing
Bora Böcügöz, the bank’s Executive Vice President, commented that this funding will channel investments needed for Türkiye’s low-carbon transition, benefiting the environment, society, and future generations.
Ends/
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Source: EBRD
