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European Investment Bank Expands Support for Türkiye’s Sustainable Development
(MENAFN) The European Investment Bank (EIB) has reaffirmed its commitment to supporting Türkiye’s environmental and infrastructure goals, with officials indicating that future cooperation could extend beyond clean energy initiatives to include railway modernization and expansion projects.
The EIB, the European Union’s lending institution and one of the world’s largest multilateral development banks, recently finalized a €200 million financing package aimed at accelerating Türkiye’s green transition. Since beginning operations in the country in 1965, the bank has financed hundreds of projects across sectors such as transportation, urban development, agriculture, energy, climate action, and private-sector growth, with total funding exceeding €30 billion.
Among the notable partnerships between the EIB and Türkiye was a €400 million financing agreement designed to restore water and wastewater infrastructure damaged by the devastating earthquakes that struck the country in February 2023.
The latest agreements, signed on Wednesday, allocate €200 million toward sustainability-focused investments. Half of the funding will be channeled through the Development and Investment Bank of Türkiye to support environmentally friendly industrial projects, while the remaining €100 million will be provided through Turk Eximbank to finance green initiatives undertaken by Turkish exporters.
Discussing the growing emphasis on sustainability, EIB Vice President Robert de Groot said: "I think all companies are looking for lower energy consumption and also to maximize the use of renewables."
He added: "So, every businessman you talk to, whether it's in this country or anywhere else in Europe, has very much energy efficiency on his mind."
During his first official trip to Türkiye, De Groot also highlighted reconstruction efforts in earthquake-affected regions. He praised the progress made in restoring access to drinking water in Hatay and expressed admiration for the technical quality of the rebuilding work.
According to De Groot, the objective is not only to replace damaged infrastructure but also to create systems capable of withstanding future seismic events, strengthening long-term resilience in vulnerable areas.
The EIB, the European Union’s lending institution and one of the world’s largest multilateral development banks, recently finalized a €200 million financing package aimed at accelerating Türkiye’s green transition. Since beginning operations in the country in 1965, the bank has financed hundreds of projects across sectors such as transportation, urban development, agriculture, energy, climate action, and private-sector growth, with total funding exceeding €30 billion.
Among the notable partnerships between the EIB and Türkiye was a €400 million financing agreement designed to restore water and wastewater infrastructure damaged by the devastating earthquakes that struck the country in February 2023.
The latest agreements, signed on Wednesday, allocate €200 million toward sustainability-focused investments. Half of the funding will be channeled through the Development and Investment Bank of Türkiye to support environmentally friendly industrial projects, while the remaining €100 million will be provided through Turk Eximbank to finance green initiatives undertaken by Turkish exporters.
Discussing the growing emphasis on sustainability, EIB Vice President Robert de Groot said: "I think all companies are looking for lower energy consumption and also to maximize the use of renewables."
He added: "So, every businessman you talk to, whether it's in this country or anywhere else in Europe, has very much energy efficiency on his mind."
During his first official trip to Türkiye, De Groot also highlighted reconstruction efforts in earthquake-affected regions. He praised the progress made in restoring access to drinking water in Hatay and expressed admiration for the technical quality of the rebuilding work.
According to De Groot, the objective is not only to replace damaged infrastructure but also to create systems capable of withstanding future seismic events, strengthening long-term resilience in vulnerable areas.
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