Climate fund approves $250 million to decarbonize Turkish industry

The Climate Investment Funds (CIF) has approved $250 million in financing for the Türkiye Industrial Decarbonization Investment Platform (TIDIP), the first funding package for the initiative.

The catalytic funding is expected to mobilize $2.8 billion in total, including $1.93 billion from multilateral development banks and $870 million from the private sector and other sources, to speed the decarbonization of Turkish industry.

Eligible projects include green hydrogen, carbon capture, use and storage, energy efficiency, circular economy, renewable energy, climate technology and green market development. Applicants must place a just transition, gender equality and social inclusion at the center of their investment plans, and show how moving away from carbon-intensive production creates opportunities for workers and communities.

The fund expects to benefit 378 Turkish businesses, including small and medium-sized and women-led companies, by 2035, and to reduce or avoid 39 million metric tons of carbon dioxide equivalent by then.

TIDIP was set up in 2024 under the leadership of Turkey's Ministry of Industry and Technology and the European Bank for Reconstruction and Development (EBRD), with the International Bank for Reconstruction and Development (IBRD) and the International Finance Corporation (IFC) also taking part. It prioritizes steel, cement, aluminum and fertilizer and aims to channel 5 billion euros into industrial green investment by 2030.

This brief is based on a report published Oct. 15, 2026, by the İklim Haber newsroom, citing Yeşil Ekonomi. Read the original: https://www.iklimhaber.org/sanayide-yesil-donusume-250-milyon-dolarlik-finansman-paketi-onaylandi/