The World Bank has approved USD450mn in financing for the Türkiye Green Industry Project. The funding will be directed towards supporting the green transformation of industrial firms in Turkey. Specifically, USD250mn will be allocated to the Small and Medium Enterprises Development Organization of Türkiye (KOSGEB) to help SMEs improve their resource efficiency and reduce carbon emissions. Additionally, USD175mn will be provided to the Scientific and Technological Research Council of Türkiye (TÜBITAK) to promote green innovation activities among Turkish enterprises, research institutions, and universities. The remaining USD25mn will be used by the Turkish government to coordinate project activities and establish the necessary institutional framework for the country's national green industrial transition agenda.

Source:  ESGNews