Creating Opportunity Where It's Needed Most
A A A share

Europe, Middle East & North Africa

Turkey is diversifying and deepening its corporate bond market, with the help of the World Bank Group
The IFC report assessed the potential is over $89 billion with energy generation accounting for almost $42 billion, of which $22 billion is in renewables.
Healthcare spending, which represents about 10 percent of global GDP, is rising faster than any other expense due to increasing demand for treatment, changing demographics and epidemiological trends, and advances in medical technology.
upporting the development of strong, deep capital markets is a cornerstone of our strategy in emerging markets and a priority for IFC regionally and globally, as well as in Turkey.
Improving the quality of city life is and will continue to be one of the most important global development challenges. Building sustainable cities that offer clean air and water, relatively green buildings and accessible transportation takes great

Contact Information

Buyukdere Cad. No: 185
Kanyon Ofis Blogu Kat 17
Levent, 34394 Istanbul
Tel.: (90-212) 385-3000
Fax: (90-212) 385-3001

Contact Representative:
Basak Pamir Ulgen
Corporate Relations



  • All Publications in Europe and Central Asia

IFC Strategy in Turkey

IFC had a third consecutive record year in Turkey, investing $1.8 billion in projects to support sustainable energy and infrastructure development, improve municipal services, develop public-private partnerships (PPPs), promote local capital markets, and help Turkish companies increase competitiveness and impact. IFC also advised businesses and government bodies on initiatives to encourage private sector growth. 

During fiscal year 2015, which ended on June 30, IFC committed $1.3 billion in equity and long-term loans across 28 projects, more than doubling the previous year total. Of this amount close to $500 million included financing mobilized from third party investors. IFC also provided $530 million in short-term loans to support trade finance. With a portfolio of around $4.3 billion, Turkey is the third largest country exposure for IFC globally. IFC’s office in Istanbul, its largest office outside of its Washington, D.C. headquarters, is the operational hub for IFC’s activities in Europe, Central Asia, and the Middle East and North Africa.
“Turkey remains a priority country for IFC and for the World Bank Group,” said Aisha Williams, IFC Country Manager for Turkey. “Turkey has a vibrant economy with a strong, agile private sector. In line with our strategy in Turkey, we had a record year by working with our clients to support Turkey’s sustainable development through equity investments, long and short-term financing and advisory projects to create a better ecosystem for private sector development. “

Supporting energy and infrastructure development, fostering sustainable cities

IFC continued to support Turkey’s infrastructure development. In sustainable energy, IFC made one of its largest equity investments globally, acquiring a 27 percent stake in Gama Enerji, along with a fund managed by IFC’s Asset Management Company. 

In partnership with the World Bank, a key priority for IFC in Turkey is helping build better and more environmentally sustainable cities. With financing of nearly $40 million, IFC continued its long-term partnership with Ýzmir Metropolitan Municipality, helping finance an extension of the city’s light-rail network to improve public transport; and with supporting the expansion of a wastewater treatment plant. IFC also arranged a $95 million financing package, including an equity investment, to Hexagon Solid Waste to help build and operate solid waste management and organic fertilizer production facilities in Pamukova and Bilecik.

This year, IFC also participated in three landmark healthcare PPP projects for the construction of integrated healthcare campuses in Adana, Ankara, and Kayseri, providing a total of €145 million in loans from its own account and mobilizing another €215 million from other financing sources. The projects are expected to increase access to high quality public healthcare services and set an example for PPPs in other sectors in Turkey enabling public and private sectors to work together.

Partnering with financial institutions to increase access to funding

In 2015, IFC continued its partnership with Turkey’s banks and financial institutions to increase access to finance for small and medium enterprises and increase investments in areas that are essential for Turkey’s sustainable development; such as energy efficiency, sustainable energy, and green mortgages. IFC partnered with Odeabank, Finans Leasing, Abank, Yapý Kredi Leasing and Þekerbank and provided $220 million for such projects. IFC also committed $530 million to Turkish banks under its Global Trade Finance Program (GTFP), which broadens access to finance for companies and reduces risks for local banks.

Supporting the New Information Economy

IFC is at the forefront of supporting Turkey’s growing information technology sector. In 2015, IFC made a $25 million equity investment in data center operator Zenium to support the development, construction, and operation of a 12,000-square-meter facility in Istanbul, expanding access to information technology infrastructure for businesses in Turkey. IFC also invested $6.2 million in iyzico, a payment service provider, to help the company expand its online payment platform and boost e-commerce for SMEs. Recently, along with Abraaj Turkey Fund, IFC made a $15 million equity investment in, Turkey’s largest online retail business to support the company’s growth initiatives and expansion of its product and service offerings.

IFC’s work in Turkey is based on a joint Country Partnership Strategy (CPS) for the period 2012-2016.  The World Bank Group CPS aims to support Turkey’s transition to high-income status with financing of up to $9 billion during the five-year period, as well as with policy analysis and advisory services. Key objectives include enhanced competitiveness and employment, improved equity and public services, and deepened sustainable development.


Details of projects currently in progress can be found in IFC Disclosure

For completed projects see press releases by visiting the IFC Press Room.

Stay Connected