Turkish lender Garanti BBVA has completed the issuance of a €30 million green bond dedicated to financing sustainable agriculture and climate change adaptation initiatives in Türkiye. The debt instrument, issued under the bank’s international funding programme, carries a maturity period of one year and two days.
The capital raised through the issuance is governed by the Garanti BBVA Sustainable Debt Finance Framework. According to the bank, the proceeds are strictly earmarked for deployment across several agricultural sub-sectors. These include organic and sustainable land management, the installation of efficient irrigation infrastructure, the deployment of water management systems, and direct investments designed to increase the climate resilience of primary food production.
The transaction follows a broader strategic reallocation of capital by the financial institution toward climate-resilient infrastructure. Mahmut Akten, Chief Executive of Garanti BBVA, highlighted the strategic importance of the agricultural sector to the domestic economy, particularly in relation to long-term food security and climate volatility. He noted that investment to strengthen agricultural infrastructure is essential as the impacts of climate change become more pronounced.
The issuance aligns with the bank’s revised long-term sustainable finance targets. Garanti BBVA recently adjusted its cumulative sustainable financing objective for the 2018–2029 period upward to 3.5 trillion Turkish Lira. Financial disclosures indicate that the bank had deployed approximately 1.3 trillion Lira of this target by the end of the first quarter of 2026.
The bank confirmed that future funding strategies will continue to focus on expanding sustainable debt pipelines to finance renewable energy, circular economy initiatives, and energy efficiency projects alongside its agricultural commitments.
