İşbank obtains USD 380 million of sustainable funds

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İşbank has signed a loan agreement amounting to USD 67 million and EUR 75 million, with the International Finance Corporation (IFC), PROPARCO (the private sector representative of the French Development Agency), and the Green for Growth Fund (GGF). Additionally, the Bank successfully concluded a sustainability-linked treasury financing transaction totaling USD 230 million.

İşbank will use the funds obtained under the agreement signed with IFC, PROPARCO, and GGF to finance renewable energy, resource efficiency and energy efficiency, as well as to finance individuals, farmers, micro, and small enterprises in the provinces impacted by the earthquake disasters that occurred in Türkiye on February 6, 2023.

For the sustainability-linked treasury financing transaction, the Bank determined sustainability performance criteria, including the amount of consumer loans to be provided in earthquake-impacted provinces and the amount of cash loans to be extended to small and medium-sized women entrepreneurs.

Sustainable funding obtained since the beginning of the year to reach USD 2.4 billion

In her statement, Gamze Yalçın, İşbank's Deputy CEO and Sustainability Leader, said, “Our Bank is consistently expanding its range of transactions in sustainability-focused funding, utilizing various instruments such as bilateral agreements, syndication, securitization, Eurobond issuance, and treasury transactions. In this regard, we have contributed sustainability-focused funds totaling USD 2.4 billion to our country since the beginning of 2023."  

Highlighting the significance of allocating a substantial portion of the funds to the earthquake-impacted region, Yalçın emphasized that, from the onset of the earthquake, İşbank has been striving to maximize financial assistance to the region by leveraging both internal and external resources. Emphasizing their commitment to making a lasting contribution to mitigating the impacts of earthquake disasters in the region, Yalçın continued her statement as follows:

“During such times, witnessing the support extended by international financial institutions is invaluable. This agreement signed by our Bank with IFC, PROPARCO, and GGF is of significant importance, both in terms of demonstrating the support of these organizations to the Turkish economy as well as reinforcing their collaboration with İşbank. In addition to the funds earmarked for the earthquake region, we aspire to enhance the support in areas like renewable energy, energy efficiency, and resource efficiency and aim to contribute to our country's pursuit of net-zero commitments. Furthermore, as an organization that recognizes the importance of enhancing women's participation in business as a key element of sustainable development, we seek to foster the empowerment of women in the economy and their broader societal standing in alignment with the principles outlined in the Women's Empowerment Declaration we issued in March 2023."​