Development and Investment Bank and German Development Bank Agreed on a 40-Year Maturity Loan

Development and Investment Bank of Türkiye continues supporting sustainable development for Türkiye’s future through new loan agreements. The Bank signed a EUR 45 million loan agreement with a maturity of up to 40 years, jointly financed by the German Government and German Development Bank (KfW) and made available through an on-lending arrangement from the Republic of Türkiye Ministry of Treasury and Finance.

The long-term loan signed with German Development Bank (KfW) will be available to investors developing solar-energy projects that contribute to the socioeconomic conditions of the population and the environment, comply with Turkish environmental legislation, and have no adverse impact on biodiversity.

Commenting on the agreement, TKYB CEO İbrahim Öztop said: “This second agreement signed with KfW Development Bank in 2019 to support our country’s sustainable development is of great importance for investments in our future. In addition to supporting sustainable development with the objective of a Türkiye that generates its own energy, we will continue signing financing agreements in 2020 for loans to be offered to investors across different fields.”

Regarding the theme of the loan agreement, Öztop said: “Through this financing, we will support photovoltaic project investments in renewable and solar energy that place sustainability at the forefront. Conscious of our commitment to the United Nations Sustainable Development Goals and our role as a founding signatory of the Principles for Responsible Banking, which envisage reducing carbon emissions, we will continue without slowing our financing and lending activities for renewable-energy projects that will contribute to Türkiye’s development.”

Frank Bellon, Director of KfW’s Ankara Office, said: “Through this solar-energy loan provided by KfW to Development and Investment Bank of Türkiye on behalf of the German Government, KfW aims to contribute to Türkiye’s efforts to combat climate change and increase the share of renewable energy resources in electricity generation, particularly by meeting growing demand for solar-energy investments in Türkiye. Accordingly, the solar-energy facility supports Türkiye’s low-emission and climate-resilient economic development and its long-term sustainability objectives, and KfW is very pleased to cooperate with Development and Investment Bank of Türkiye for this purpose.”

About Development and Investment Bank of Türkiye

Since 1975, Development and Investment Bank of Türkiye has supported development initiatives in every area needed by Türkiye. Drawing on its strong international standing and the resources it secures, it supports competitive and efficient production for a stable and robust economy. In line with the 2023 objectives, guided by the 11th Development Plan and the United Nations Sustainable Development Goals, the Bank focuses on financing sustainable development. With experienced and specialised human resources possessing command of global banking standards, a dynamic structure, and innovative products and services, it will continue to stand by investors.