Turkey: TSKB Sustainable Energy and Infrastructure On-lending Facility, Phase 2

approved

A sovereign-backed multi-sector facility (the Phase 2 Facility) in favor of the Borrower to support Turkey's climate mitigation and adaptation commitments under the recently ratified Paris Climate Agreement (Oct. 2021).  Proceeds from the Phase 2 Facility will be on-lent in the form of Sub-loans to eligible private sector entities (the Sub-borrowers) to finance eligible climate mitigation (CM), climate adaptation (CA) and climate industry (CI) projects in Turkey's energy, infrastructure, and other productive sectors (the Sub-projects). The proposed Phase 2 Facility is a follow-up to the project P000132 TSKB Sustainable Energy and Infrastructure On-lending Facility (the Phase 1 Facility), which reached loan closing on April 1, 2022. The Project Closing Note was submitted to the Board on Sep. 26, 2022. The Bank may co-finance alongside TSKB selected non-sovereign-backed Sub-projects under the Phase 2 Facility on a case-by-case basis.