TSKB secures €300M World Bank-backed loan for climate resilience in Türkiye
What's the deal? Türkiye's Industrial Development Bank (TSKBDealroom has a profile for this one. Try Dealroom →) has signed a €300M loan agreement with BNP Paribas, Standard Chartered Bank, and ING Bank. The deal is partially guaranteed by the International Bank for Reconstruction and Development (IBRD), a World Bank Group member, and counter-guaranteed by Türkiye's Ministry of Treasury and Finance.
This €300M tranche is the first phase of a larger €600M project called Financing Adaptation for Growth. The funds aim to mobilise private capital for sustainable development and strengthen Türkiye's resilience to climate risks.
Why now? TSKB, which has operated for 75 years, is diversifying its funding structure through innovative financial products. Climate adaptation has become an urgent priority globally, and Türkiye faces growing exposure to climate-related risks across multiple sectors.
The project also introduces a first-of-its-kind assessment tool for companies, built on TSKB's development banking experience and sustainable finance expertise. It uses a methodology that factors in sectoral and location-based climate vulnerabilities.
What could go wrong? The loan depends on a complex guarantee structure involving the World Bank and Türkiye's government — any political or economic instability could complicate future disbursements. The second €300M phase has yet to be finalised, and there's no guarantee it will proceed on the same terms.
Deploying climate adaptation funds effectively is also notoriously difficult. Measuring resilience outcomes is less straightforward than, say, tracking renewable energy capacity, which could make it harder to demonstrate impact.
The signal: This deal underscores a growing model in which multilateral institutions like the World Bank use partial guarantees to de-risk commercial lending for climate adaptation in emerging markets, effectively crowding in private capital without lending directly. For TSKB, a mature development bank already oriented toward sustainable finance, the structure offers a blueprint for channelling international funds into domestic climate resilience — a segment where adaptation financing still lags far behind mitigation globally.
Read more: tskb.com.tr
