Türkiye’s Isbank receives $114M climate loan from French Development Agency

Türkiye’s Isbank signed a €100 million ($114 million) sustainability loan agreement with Proparco, the private sector arm of the French Development Agency (AFD), the bank announced on Friday.

The loan, which carries a final maturity of five years, aims to strengthen Isbank’s support for climate finance initiatives while also meeting the financing needs of micro, small, and medium-sized enterprises (MSMEs).

Ebru Ozsuca, Deputy CEO of Isbank, said the funding would be used to support both MSMEs and projects aimed at combating the climate crisis.

She emphasized that “with this new funding, we will support both micro, small, and medium-sized enterprises and projects that contribute to combating the climate crisis.”

‘Broader reach and impact within Türkiye’s economy’

Stephane Froissardey, Proparco’s Regional Director for Türkiye, the Middle East, the Caucasus, the Balkans, and Central Asia, expressed satisfaction with the collaboration, saying that the €100 million loan would strengthen the longstanding partnership with Isbank.

“Partnering with the country’s largest private bank enables this financing to have broader reach and impact within Türkiye’s economy,” he emphasized.

Froissardey added that the transaction aligns fully with Proparco’s commitment to improving access to finance and supporting the transition to a low-carbon economy.”

With an active size of ₺3.3 trillion ($85.86 billion) in 2024, Isbank ranks as Türkiye’s largest private bank.