The European Bank for Reconstruction and Development (EBRD) has invested US$100 million (€86.4 million) in a green bond issuance by Türkiye’s DenizBank to expand access to green finance in the country. The total size of the bond issuance is approximately US$270 million (€233.2 million), and the proceeds will be used to finance eligible private sector green projects, including renewable energy, energy efficiency initiatives, and green buildings. The bond is issued under DenizBank’s Sustainable Finance Framework, which aligns with the International Capital Market Association’s Green Bond Principles.
This issuance is part of a series of green bonds by DenizBank, totaling around US$350 million (€302.3 million) across multiple tranches. EBRD actively supports innovative green finance instruments in its regions of operation, aiming to enhance access to green funding while strengthening local capital markets. By participating in DenizBank’s issuance, EBRD seeks to foster growth in Türkiye’s green bond market, attract international capital, and encourage Turkish banks to expand their sustainable lending portfolios and adopt innovative green finance products.
Oksana Yavorskaya, Deputy Head of Türkiye at EBRD, stated that the bank is committed to helping partners leverage diverse funding instruments that support their green ambitions. She highlighted this project as a strong example of EBRD’s approach to promoting sustainable finance and supporting DenizBank in advancing green opportunities in Türkiye. Bora Böcügöz, Executive Vice President of DenizBank’s Treasury, Financial Institutions and Investment Group, emphasized the bank’s commitment to creating financial solutions that support both economic development and environmental sustainability.
He noted that the green bond will channel resources into investments critical for Türkiye’s transition to a low-carbon economy and provide long-term financing for projects that address climate change risks. DenizBank will continue to integrate sustainability into its financial products and services to benefit the environment, society, and future generations. Since 2009, EBRD has been a major investor in Türkiye, committing over €22 billion through 495 projects and trade finance limits, primarily in the private sector.
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