Garanti BBVA has secured €1.7 billion in sustainable financing for the Antalya-Alanya Highway Project, marking a significant advancement in Turkey's infrastructure development and commitment to sustainability.
Target Information
Garanti BBVA has successfully secured financing for the Antalya-Alanya Highway Project, amounting to €1.7 billion. This project represents one of Turkey's most significant infrastructure endeavors and involves a sustainable finance model that underscores the importance of environmentally conscious development. Garanti BBVA will serve as the "Sustainability Coordinator" throughout the loan term, a role that highlights its commitment to integrating sustainability into major corporate finance initiatives in Turkey.
This undertaking not only showcases Garanti BBVA’s capabilities in providing large-scale financing but also marks a pioneering step in offering the first sustainable interest rate swap transaction (IRS) from its portfolio. The project is notable for being one of the largest sustainability-linked loans extended to a corporate entity in Turkey, setting a high standard within the financial sector.
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Industry Overview in Turkey
The infrastructure sector in Turkey has seen substantial growth over the past decade, bolstered by government initiatives aimed at enhancing transportation and connectivity. Major projects, such as highways, bridges, and tunn
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Disclosed details
Transaction Size: $1,841M