{"id":87480,"date":"2024-10-22T00:00:00","date_gmt":"2024-10-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/10\/22\/qnb-issues-turkeys-first-blue-bond\/"},"modified":"2024-10-22T00:00:00","modified_gmt":"2024-10-22T00:00:00","slug":"qnb-issues-turkeys-first-blue-bond","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/10\/22\/qnb-issues-turkeys-first-blue-bond\/","title":{"rendered":"QNB issues Turkey\u2019s first blue bond"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong><\/strong><strong>QNB issues <\/strong><strong>Turkey\u2019s<\/strong><strong> first blue bond:<\/strong> QNB T\u00fcrkiye issued the country\u2019s first blue bond worth USD 25 mn along with a <a target=\"_blank\" href=\"https:\/\/www.qnb.com.tr\/en\/about-qnb\/press-room\/press-release\/qnb-issues-its-first-green-bond-with-the-ebrd\" style=\"\" rel=\"noopener\">green bond issuance<\/a> \u2014 the bank\u2019s first \u2014 of up to USD 100 mn, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/qnbturkiye_ye%C5%9Fi%CC%87l-ve-mavi%CC%87-tahvi%CC%87l-i%CC%87hracati-activity-7252586178053332992-A0ZU?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">statement<\/a>. Both bonds will have a tenor of five years and a grace period of two years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s backing the issuances?<\/strong> The IFC \u2014 a major backer of Turkey with a USD 5.2 bn financing portfolio \u2014 will be the sole investor in the blue bond. The IFC and the European Bank for Reconstruction and Development will also support the bank\u2019s green bond issuance with USD 50 mn each, according to an IFC <a target=\"_blank\" href=\"https:\/\/www.ifc.org\/en\/pressroom\/2024\/ifc-invests-in-t-rkiye-s-first-blue-bond-alongside-green-bond-issuance-to-address-climate-change\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Where will the money go? <\/strong><span style=\"background-color: transparent;\">The bonds will support small and medium enterprises and big companies' projects in energy efficiency, biodiversity, sustainable fisheries, and sustainable tourism. They will provide long-term financing for renewable energy and low-carbon projects to align with Turkey\u2019s <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/fcb2479d-443c-482c-bd93-c52faa96c493\/ebrd-extends-usd-60-mn-loan-for-116-mw-turkish-wind-energy-project\" rel=\"noopener\">2053 net zero target<\/a><span style=\"background-color: transparent;\"> \u2014 a goal that will require USD 10 bn in financing annually through 2030.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>That\u2019s not all: <\/strong>The IFC also plans to support QNB T\u00fcrkiye\u2019s blue portfolio by helping it standardize its definition of blue financing, identify blue assets in its possession, and improve ESG compliance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IFC will invest USD 25 mn in the bank\u2019s blue bond issuance<\/p>\n","protected":false},"author":1,"featured_media":87481,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84],"tags":[83,11,49,164,162,191],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseclimate","tag-green-bonds","tag-green-finance","tag-ifc","tag-turkey","wpautop","entry"],"acf":{"mongo_id":"3cdb7b49-bfed-420a-b06a-4bdbe07a546c","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/1627.jpg","photo_position":"above","homepage_title":"","full_issue_title":"QNB issues Turkey\u2019s first blue bond","related_issue":[87475],"teaser":"IFC will invest USD 25 mn in the bank\u2019s blue bond issuance","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.966e1da0-3cf8-4975-8f6b-8ceb81a8cfe7.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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