JEDDAH, SAUDI ARABIA: The Islamic Corporation for the Development of the Private Sector (ICD) and Golden Global Investment Bank (the Bank) have entered into a landmark agreement to bolster economic growth in Türkiye. This new USD 20 million Commodity Murabaha Facility is designed to support private sector projects, with a special focus on small and medium-sized enterprises (SMEs) and corporates operating in the agriculture, ship construction, and leasing sectors in the Republic of Türkiye.

This strategic partnership highlights ICD’s dedication to fostering private sector development within its member countries. The facility provided by ICD will enable the Bank to fund a range of private sector projects, particularly in the agriculture, ship construction, and operational leasing sectors, which will ultimately contribute to the economic development in Türkiye.

Key Highlights of the Agreement:

• Funding Amount: USD 20 Million
• Target Sector: Private sector projects, especially corporations and SMEs
• Objective: Enhance the SME and corporate landscape in Türkiye by providing essential resources for business growth and development
• Strategic Alignment: Supports ICD’s Private Sector Channel Development Strategy

The agreement underscores the critical role of private sector financing in economic development. By facilitating access to financial resources, the initiative will help bridge funding gaps for SMEs and corporate clients, driving innovation and fostering a more robust and diverse economy.

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• EBRD provides €195 million to earthquake-hit cities in Türkiye
• Financing to cover water system projects in Adiyaman and Hatay
• EBRD is a key investor for the region and its recovery 

TURKIYE: The European Bank for Reconstruction and Development (EBRD) is providing €195 million to two key infrastructure projects in Türkiye’s earthquake-hit cities of Adiyaman and Hatay.   

Of the total EBRD financing, €95 million will cover the construction of wastewater and stormwater networks and facilities in Adiyaman. The other €100 million will be directed towards the construction of the Arsuz sewerage network and the Ucgulluk wastewater treatment plant in Hatay.

The loan will be provided to Türkiye through the Ministry of Treasury and Finance, for the benefit of Adiyaman Municipality and Hatay Water and Sewerage Administration, respectively.

İller Bankasi, the authorised body responsible for disbursing all critical municipal infrastructure financing provided by international financial institutions in the affected region, will act as the implementation agency for Adiyaman Municipality and will provide supervision and oversight services to Hatay Water and Sewerage Administration.

Both cities were severely affected by the 2023 earthquakes that hit the region, causing widespread damage and tens of thousands of fatalities.

In the weeks following the earthquake, the EBRD announced a €1.5 billion investment package to support the recovery and reconstruction of the region. Sustainable infrastructure is one of the Bank’s priorities in the area.

Key projects in the region supported by the EBRD include private-sector investments, supply chain enhancements, grants for small and medium-sized enterprises, credit lines, and critical infrastructure initiatives, such as financing the construction of a drinking water treatment plant in Gaziantep.

Elisabetta Falcetti, EBRD Managing Director for Türkiye, said: “The EBRD has already made available €1.3 billion in support of Türkiye’s earthquake-hit region. Investing in water and wastewater systems in these cities is a vital step towards restoring the dignity, health, and daily life of communities that have endured so much.

These projects are more than infrastructure – they are a signal of the EBRD’s enduring commitment to the region’s recovery and future prosperity, grounded in sustainable and inclusive growth.”

Both financings were announced during the Bank’s 2025 Annual Meeting and Business Forum, taking place in London. The event serves as a high-level platform for engagement with the Bank’s shareholders, donors, business leaders, and civil society.

The EBRD is among Türkiye’s key investors, with more than €22 billion committed through 482 projects and trade finance limits since 2009, most of which is in the private sector.

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