EBRD announces record $2.67B investment in Türkiye for 2024 focused on green initiatives
European Bank for Reconstruction and Development logo at COP 24, the 24th Conference of the Parties to the United Nations Framework Convention on Climate Change. Katowice, Poland on Dec. 12, 2018 (AFP Photo)
The European Bank for Reconstruction and Development (EBRD) has announced a record €2.6 billion ($2.67 billion) investment in Türkiye for 2024, making it the largest financial commitment the bank has made to any country.
This investment focuses on green initiatives and supporting recovery efforts in the areas affected by the February 2023 earthquake. Türkiye continues to be the top recipient of EBRD funds for the fifth consecutive year.
Why it matters
This record investment highlights Türkiye’s growing importance as a key partner for the EBRD, especially in areas like green finance and post-disaster recovery. The ongoing financial support underscores Türkiye’s leadership in sustainable development, driven by its resilient private sector and the growing emphasis on green projects.
Details
- Investment breakdown: In 2024, the EBRD invested in 51 projects in Türkiye, with 93% of the funds directed to the private sector. More than 60% of the investments focused on projects that promote gender equality, and around 60% of the total investment contributed to green transformation efforts.
- Key initiatives: Notable projects include supporting Türkiye’s first sustainability bond issued by a non-financial private company. The EBRD also collaborated with Türkiye’s Ministry of Industry and Technology to launch the Türkiye Industrial Decarbonization Investment Platform (TIDIP), which aims to secure $5 billion in investments by 2030.
- Post-earthquake support: The EBRD continued to provide financial assistance for recovery and reconstruction in the earthquake-affected regions of southeastern Türkiye. Key projects include rebuilding water and sewage systems in Gaziantep and supporting energy distribution restoration efforts in the affected areas.
- Largest financing deal: The largest financing deal in 2024, was a €240 million syndicated loan to complete the North Marmara Highway. This project was the first public-private partnership (PPP) in Türkiye’s road infrastructure to be fully financed by international investors.
EBRD’s focus on green investments and recovery efforts reflects Türkiye’s growing role in global sustainable development. The bank’s involvement is crucial to supporting Türkiye’s environmental and infrastructure goals, particularly in the aftermath of the devastating earthquake.
This investment is part of a wider global trend in which emerging economies like Türkiye are becoming increasingly important for sustainable finance.
Türkiye’s growing role in green and infrastructure investments strengthens its position as a regional leader in both economic development and environmental sustainability.
