IFC Invests in QNB Türkiye's Blue and Green Bond Issuances to Address Climate Change Impacts 

The International Finance Corporation (IFC) announced its investment in QNB Türkiye's first blue bond and green bond issuances.

This project aims to address climate change impacts in Türkiye and promote the blue economy.

The dual bond issuance consists of a $25 million blue bond, with IFC as the sole investor, and up to $100 million in a green bond, in which IFC and the European Bank for Reconstruction and Development (EBRD) each contribute up to $50 million.

Both bonds feature a five-year tenor and a two-year grace period.

Ömür Tan, the CEO of QNB Türkiye said, “We are proud to lead Türkiye’s first blue bond, alongside an additional green bond issuance, in partnership with IFC. This landmark transaction underscores our commitment to safeguarding vital water resources and supporting the transition towards a sustainable blue and green economy.”

He added, “Our collaboration with IFC reinforces QNB Türkiye’s leadership in sustainable finance and highlights our role in driving climate-smart investments that create lasting economic and environmental value.”

The project aims to increase access to climate finance for small and medium enterprises (SMEs) and larger companies in Türkiye.

The green bond will support renewable energy and energy efficiency projects, while the blue bond will fund projects related to biodiversity conservation, sustainable fisheries, and sustainable tourism crucial to Türkiye’s coastal economy.

In addition to its financial investment, IFC has worked closely with QNB Türkiye to enhance the bank’s sustainable finance capabilities.

This includes refining its definition of blue finance, identifying blue assets within its portfolio according to IFC’s Blue Finance Guidelines, and ensuring compliance with environmental and social standards.

IFC has played a significant role in mobilising climate finance in Türkiye, offering innovative financial solutions that address the needs of both the green and blue economies.

These efforts contribute to the country’s goal of achieving net-zero emissions by 2053 and building a more resilient financial system.