Statement from TKYB; 100 Million Euros Eurobond Issuance

Agence Française de Développement (AFD) has invested €100 million in the first sustainable eurobond issued by the Development and Investment Bank of Turkey. With an 11-year maturity, the funds to be raised from the issue will be used to support investments and social projects to combat climate change.

At least 75 percent of the funds to be obtained from the eurobond issuance realized within the scope of the Sustainable Finance Framework of the Development and Investment Bank of Turkey (TKYB) will be allocated to the financing of green projects that contribute to combating climate change in Turkey, while the remaining portion will be used for social projects. Within the scope of this issuance, AFD's technical support program will be utilized for efforts to increase the female workforce in the economy. İbrahim Öztop, General Manager of the Development and Investment Bank of Turkey, said: "This funding is the first sustainable eurobond issuance of a bank with 47 years of history. I would like to thank AFD for its trust in our Bank and hope that our cooperation will continue to increase." Oliver Gauvin, Consul General of France in Istanbul, said: "Greening financial systems has become a priority to strengthen the transition to low-carbon and climate-resilient economies and to achieve the Paris Agreement targets. This first sustainable bond issuance of TKYB supported by AFD reminds us of the excellent cooperation between France and Turkey, especially in the area of Turkey's low-carbon energy transition in line with the Paris Agreement." Ms. Cécile Courperie, AFD Regional Director for Eurasia, said: "AFD is fully committed to the greening of global finance. We are pleased to renew our cooperation with TKYB with this new financial instrument, which complements our traditional credit lines. The technical assistance package signed today will support initiatives to increase women's employment in the projects financed by TKYB." Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account! https://twitter.com/BloombergHT/status/1572202742193557666