The Industrial Development Bank of Turkey (TSKB) received $ 75 million in loans from the International Finance Corporation, a member of the World Bank Group.
According to a written statement from TSKB, which has become the leading provider of renewable energy finance in Turkey, TSKB intends on using that loan to help finance renewable energy and energy efficiency projects in Turkey.
TSKB CEO Fevzi Onat said that IFC is one of their key partners in scaling up energy efficiency lending. Mr. Onat also add that they are targeting companies in the manufacturing, agriculture,and construction sectors who want to upgrade machinery and equipment in order to save energy and reduce green house gas emissions.
TSKB is the first private investment and development bank of Turkey. Its main shareholder is İş Bankası Group (50.1%).
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