EBRD & DenizBank Team Up for €233M Green Bond to Boost Turkey's Green Finance
The European Bank for Reconstruction and Development (EBRD) has joined forces with DenizBank to issue a green bond worth approximately 233.2 million euros. The aim is to boost access to green financing in Turkey and bolster its capital markets.
EBRD invested US$ 100 million in the bond issuance, which totals around US$ 270 million. This transaction supports innovative green finance instruments in EBRD's economies of operation. The proceeds will fund eligible green projects in the private sector, fostering growth in Turkey's green bond market.
DenizBank's total green bond issuance now stands at approximately US$ 350 million. The bank's sustainable finance framework guided the issuance. EBRD's participation in this project aligns with its commitment to Turkey, having invested more than €22 billion through 495 projects since 2009.
The green bond issuance by DenizBank, supported by EBRD, will finance green projects in the private sector. It aims to increase access to green finance in Turkey and deepen capital markets, contributing to the country's sustainable development.
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