Stating that they are in cooperation with the World Bank, Şimşek said that the World Bank has approved a 155 million dollar loan to be provided to the Industrial Development Bank of Turkiye AŞ for the Green Finance Project.
Şimşek announced that a new fund will be launched in the country as part of the project, which will be called the "Tuerkiye Green Fund".
Minister Şimşek explained that the aim of the project is to provide green financing to businesses, promote investment in green technologies and diversify the financial sector. Şimşek explained that the "Turkey Green Fund" will be a venture capital fund that will provide equity financing for green and innovative transformation companies.
Şimşek pointed out that the fund will be subject to the legislation of the Capital Markets Board and said that the World Bank loan will be a source for the fund.
Minister Şimşek explained that the aim of leveraging the 155 million dollar loan granted by the World Bank is to provide other investors with resources for the fund and to increase the size of the fund in the subsequent period.
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