| Financier | Commitments |
|---|---|
| International Bank for Reconstruction and Development | 155.00 |
Green Finance Project
Abstract*
The project’s objective will be achieved through one component and an innovative design. The project aims to simultaneously support (i) firms’ decarbonization and investments in green technologies, (ii) development of the PE industry through a demonstration green fund, (iii) financial sector diversification and development of firms’ access to diversified sources of long-term finance, (iv) lowering high corporate leverage, and (v) accelerate financing... Show More
Development Objective
The development objective is to support the greening of firms through equity financing and mobilized private capital, and expand climate financing in Türkiye’s capital markets.
Key Details
Project Details
P178274
Active
Birgitte Berg , Etkin Ozen
Türkiye Sinai Kalkinma Bankasi (TSKB),Ministry of Treasury and Finance
January 30, 2023
(as of board presentation)
November 9, 2023
October 10, 2024
US$ 460.00 million
Türkiye Sinai Kalkinma Bankasi (TSKB),Maxis Private Equity Portfolio Management A.S.,Ministry of Environment, Urbanization and Climate Change
2024
US$ 155.00 million
N/A
Substantial
December 31, 2029
Yes
BANK APPROVED
February 22, 2024
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 155.00 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 155.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 460.00 |
Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Nov 9, 2023 | IBRD-96070 | Loan Commitment | 155,000,000.00 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Progress towards achievement of PDO | Satisfactory | 2025-01-21 |
| Procurement | Satisfactory | 2025-01-21 |
| Project Management | Satisfactory | 2025-01-21 |
| Financial Management | Satisfactory | 2025-01-21 |
| Monitoring and Evaluation | Satisfactory | 2025-01-21 |
| Overall Implementation Progress (IP) | Satisfactory | 2025-01-21 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
CO2 emissions per megawatt avoided through TGF renewable energy investments Value 0.00 0.00 1350.00 Date June 30, 2023 January 31, 2024 December 31, 2029 Comment Carbon emission intensity reduction at greening manufacturing investees through TGF investments Value 0.00 0.00 10.00 Date June 30, 2023 January 31, 2024 December 31, 2029 Comment Amount of investments in green or greening firms Value 0.00 0.00 300.00 Date June 30, 2023 January 31, 2024 December 31, 2029 Comment Amount of private capital mobilized at TGF level Value 0.00 0.00 100.00 Date June 30, 2023 January 31, 2024 December 31, 2029 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Türkiye Green Fund established with green investment framework Value No No Yes Date June 30, 2023 January 31, 2024 December 31, 2029 Comment Number of firms financed through TGF Value 0.00 0.00 20.00 Date June 30, 2023 January 31, 2024 December 31, 2029 Comment Number of women-inclusive firms financed through TGF Value 0.00 0.00 6.00 Date June 30, 2023 January 31, 2024 December 31, 2029 Comment Amount of private capital mobilized at investee level Value 0.00 0.00 150.00 Date June 1, 2023 January 31, 2024 December 31, 2029 Comment Share of enterprises that report financial and non-financial support through TGF reflected their needs through periodic surveys Value 0.00 0.00 80.00 Date June 30, 2023 January 31, 2024 December 31, 2029 Comment