The European Investment Bank Resumes Its Operations in Türkiye

The European Investment Bank (EIB) announced that it has officially resumed its operations in Türkiye, which had been suspended in 2019.

The bank’s first official transactions involved providing a total of 200 million euros—100 million euros each—to the Turkish Development and Investment Bank (TKYB) and Turkish Eximbank.

According to the bank’s statement on the matter, the two Turkish banks will channel the funds toward renewable energy and energy efficiency investments by small and medium-sized enterprises (SMEs).

In the same statement, Turkish Minister of Treasury and Finance Mehmet Şimşek expressed his satisfaction with the EIB’s return to Türkiye, emphasizing that the financing provided will help Turkish businesses invest in clean energy, increase their efficiency, and enhance their competitiveness.

EIB Vice President Robert de Groot said that through their collaboration with the two banks, they are investing in the green transition and development of the Turkish economy.

The EIB had suspended lending in 2019

The European Investment Bank had officially suspended new lending to Türkiye in 2019 under sanctions imposed by the European Union due to Türkiye’s oil and natural gas exploration activities in the Mediterranean.

However, following the 2023 earthquake disaster, the bank made an exception and announced a 400-million-euro loan package to support reconstruction efforts; in December of last year, it announced plans to resume its operations in Türkiye.