USD 325 Million Equivalent in Financing from the Asian Development Bank for Post-Earthquake Recovery and Renewable Energy

Continuing to contribute to Türkiye’s sustainable development and economic growth for more than half a century, Development and Investment Bank of Türkiye (TKYB) entered into major cooperation under its international financing agreements by concluding its first loan agreement with the Asian Development Bank (ADB). Playing an active role in Türkiye’s development by providing financing in many areas, particularly renewable energy and energy efficiency, as well as infrastructure, climate finance, food security, emissions reduction and battery storage, TKYB continues to finance projects supporting economic development in regions affected by the February 6 earthquakes. Under this first financing agreement between TKYB and ADB, financing equivalent to a total of USD 325 million—comprising USD 150 million and EUR 150 million—with a 25-year maturity will be provided to increase renewable energy capacity in earthquake-affected regions and strengthen the competitiveness of the manufacturing sector.

At least 50% of the loan, secured under a repayment guarantee from the Republic of Türkiye Ministry of Treasury and Finance, is planned to be allocated to projects implemented directly in provinces affected by the earthquakes.

Stating that the Bank had resolutely maintained its support for the development of the earthquake-affected region since the first day, TKYB CEO İbrahim Öztop said: “We position the redevelopment of the regions affected by the February 6 earthquakes among our strategic priorities and aim to contribute to the region’s economic and social recovery through long-term, inclusive and sustainable financing solutions. In this respect, we are very pleased to establish our first cooperation with the Asian Development Bank. This loan will support our development banking objectives in many respects. Through the loan agreement signed with ADB, we will support renewable energy investments both in the earthquake-affected region and in other parts of Türkiye exposed to earthquake risk. We will continue to provide medium- and long-term financing to improve the competitiveness of the manufacturing sector, which is a symbol of Türkiye’s export strength.”

Leah Gutierrez, Director General for Central and West Asia at the Asian Development Bank (ADB), said: “Türkiye’s recovery requires sustained investment that will not only restore existing capacity but also develop productive capacity, create quality jobs and strengthen resilience to future shocks. Through cooperation with Türkiye’s leading development and export credit banks, these projects will expand access to longer-term financing for renewable energy, manufacturing and SMEs, while also helping to strengthen disaster- and gender-responsive risk management within the financial system.”