Third Credit Line for Türkiye Sınai Kalkınma Bankası A.Ş. under GREEN Operations
Supporting Environmental Preservation Projects Contributing toward Earthquake Disaster Reconstruction of Türkiye

• Region: The Middle East
• Infrastructures
• Environment
• Untied Loans

1. The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on December 22 a loan agreement for a credit line totaling up to USD200 million, of which JBIC's portion is USD120 million, with Türkiye Sınai Kalkınma Bankası A.Ş. (TSKB), the Industrial Development Bank of Türkiye. The loan is co-financed with Sumitomo Mitsui Banking Corporation and The Nishi-Nippon City Bank, Ltd. JBIC will also provide a guarantee for the portion co-financed by the private financial institutions.
     
2. This credit line is extended as part of JBIC's GREEN operations^*1 and is intended to provide funding through TSKB for renewable energy projects, energy efficiency projects, and water and waste related projects, which contribute to recovery from the earthquake that occurred in Türkiye in February 2023.^*2
     
3. The Government of Türkiye has set forth improvement of the energy self-sufficiency rate as an important policy issue and ratified the Paris Agreement in October 2021, which is an international framework of measures against global warming. Additionally, in its reconstruction road map, released in March 2023, the Strategy and Budget Office of the Turkish Presidency states that Türkiye will promote recovery in a sustainable manner. Under these circumstances, TSKB has been playing a leading role in the efforts for post-quake reconstruction, as a policy-based financial institution that pursues the sustainable development of Türkiye. This credit line is intended to support, through TSKB, environmental initiatives by the government as well as recovery efforts from the Türkiye earthquake.
     
4. As Japan's policy-based financial institution, JBIC will continue to support global environmental preservation efforts in cooperation with overseas government financial institutions and Japanese private financial institutions, including regional financial institutions, by drawing on its various financial facilities and programs for structuring projects, and by performing its risk-assuming function.
     

Note

1. *1 
   See Announcement on July 2, 2018.
2. *2 
   This is the third GREEN loan provided to TSKB, following loans in March 2015 and February 2022.