The International Finance Corporation (IFC) has announced a $100 million investment in DenizBank Anonim Şirketi’s (DenizBank) green bond issuance to accelerate funding for sustainable projects, support Türkiye’s transition to a net zero economy, and promote job creation across sectors. The five-year green bond, totaling $270 million, will allow DenizBank, a long-term IFC partner, to expand financing for environmentally sustainable initiatives.
These include renewable energy, energy efficiency, circular economy projects, waste management, and other carbon reduction efforts. The funding will help businesses enhance climate resilience, improve operational efficiency, and adopt mitigation and adaptation measures to address climate change. Additionally, by increasing its sustainable finance activities, DenizBank will diversify its sectoral exposure and reduce dependence on traditional or carbon-intensive industries.
Bora Böcügöz, DenizBank’s Executive Vice President for Treasury, Financial Institutions and Investment Group, highlighted the growing environmental, economic, and social risks posed by extreme weather, food insecurity, water scarcity, and biodiversity loss. He said the green bond will channel resources into projects critical for Türkiye’s transition to a low-carbon economy and provide long-term financing to initiatives that reduce climate-related risks.
Wiebke Schloemer, IFC Director for Türkiye and Central Asia, said the investment marks a key step in advancing sustainable finance in Türkiye. She emphasized that the initiative will strengthen climate resilience while driving economic growth and job creation. IFC remains committed to supporting Türkiye’s shift toward a low-carbon economy, ensuring environmental sustainability aligns with economic development.
Türkiye has set a target of achieving net zero emissions by 2053. Meeting this goal will require substantial investment, estimated at $165 billion between 2022 and 2040, to enhance economy-wide resilience and reduce emissions. IFC’s investment supports these objectives while aligning with the World Bank Group’s Country Partnership Framework and Country Climate and Development Report for Türkiye, which prioritize greening the economy and promoting inclusive, sustainable development. As of September 2025, Türkiye represents IFC’s third-largest country exposure globally, with a committed portfolio of around $5.8 billion.
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