Garanti BBVA has completed the renewal of its syndicated loan under its foreign funding programme, transforming the facility into its first thematic loan specifically dedicated to environmental and social transition projects. Executed on 10 June 2026, the transaction ties the bank’s capital procurement directly to its Sustainable Debt Financing Framework.
The net proceeds from the facility will be strictly allocated to projects that meet the sustainability eligibility criteria established within the bank’s operational framework. The capital deployment strategy focuses on two primary environmental and social vectors:
- Low-carbon initiatives: Funding renewable energy deployment, energy efficiency upgrades, and industrial decarbonisation projects to accelerate Türkiye’s transition away from fossil fuel dependence.
- Just transition and inclusion: Allocating capital toward social projects designed to promote inclusive economic opportunities, supporting workers and local communities affected by structural shifts toward a low-carbon economy.
Garanti BBVA has systematically integrated ESG performance criteria into its syndicated debt structures since 2020. This latest transaction transitions the bank’s funding model from standard sustainability indexing to a dedicated thematic framework, establishing a direct link between international capital markets and regional climate mitigation efforts.
Mahmut Akten, Chief Executive Officer of Garanti BBVA, highlighted the operational importance of the thematic framework, “This transaction is particularly significant as it marks our first thematic syndicated loan. Sustainable finance is a core pillar of our business model, and we believe this funding will contribute to our sustainable finance objectives while supporting a fair and inclusive transition to a low-carbon economy. We are confident it will further strengthen our support for the Turkish economy and the real sector.”
