Project Detail |
Investment of TRY 3,915,283,500 (USD 100 million) in a privately placed mortgage covered bond issuance by Akbank T.A.S. The proceeds of the financing will be used under the Türkiye Green Economy Financing Facility II (GEFF II or the Framework, BSD21-156-ADD (12)). Project Objectives The transaction supports Akbank in diversifying its funding sources and reviving the covered bond market in Türkiye, which has been dormant for years, as a viable channel to access longer-maturity TRY funding. Under GEFF II, the project aims to support green economy investments, including the financing of green mortgages, energy efficiency, renewable energy, and climate resilience measures, in a gender-responsive way. The loans will be supported by Technical Cooperation (TC), as envisaged under GEFF II. The project is determined aligned with the Paris Agreement based on the application of the EBRDs Paris alignment approach for indirectly financed investments. |