New Loan for the Circular Economy in Turkey : AFD and TSKB Deepen Their Partnership

The signing ceremony took place at TSKB's headquarters in Istanbul, attended by Isabelle Dumont, French Ambassador to Turkey, Nadia Fanton, French Consul General in Istanbul, and Xavier Muron, AFD Director for Turkey.

This new loan builds on a first EUR 80 million circular economy credit line signed in 2022, which was successfully completed. The technical advisory support provided under the initial agreement will continue under the new facility. With this financing, the total amount of funds raised by TSKB from AFD since 2005 reaches EUR 675 million.

Ozan Uyar, CEO of TSKB, stated: "This agreement represents our most ambitious commitment to date in support of the circular economy. As Turkey prepares to host COP31 for the first time, we are proud to contribute directly to financing these investments and raising awareness on this critical theme."

Xavier Muron, AFD Director for Turkey, said: "This ninth agreement is a testament to what a long-standing partnership can achieve. Each new agreement goes further than the last, and TSKB's commitment to embedding circular economy principles into its financing strategy is a genuine source of pride."

Ambassador Isabelle Dumont added: "This agreement reflects the depth of the France-Turkey partnership and a shared conviction: sustainable development is an opportunity, one that our two countries are determined to seize together, at a moment when Turkey stands at the heart of the global climate conversation as host of COP31."

Since 2005, the two institutions have worked together across a wide range of sectors, including renewable energy, energy efficiency, health, education, sustainable tourism, and women's employment.