The Asian Infrastructure Investment Bank (AIIB) is putting up to $40 million into sustainable bonds for Project Manzara in Türkiye, deepening its partnership with Rönesans Holding while backing the country’s renewable energy shift, AIIB announced. This marks the third deal between AIIB and Rönesans, one of Türkiye’s biggest development and investment groups.
The money will support an additional issuance of Rönesans’ first sustainable bond, which launched in October 2024. By adding to this transaction, AIIB is helping build sustainable capital markets in Türkiye. The two have worked together before on major projects, including a €150 million loan for the North Marmara Highway in Türkiye and a $113.9 million loan for a hospital in Kazakhstan.
Najeeb Haider, AIIB Director General for Project and Corporate Finance Clients, says the deal shows the bank’s commitment to sustainable capital markets in Türkiye and climate-friendly infrastructure.
“Through Rönesans’ sustainable bond program, we are supporting renewable energy projects with measurable environmental and social benefits,” he said.
The work shows how AIIB focuses on clients and long-term partnerships in Türkiye and Central Asia.
The proceeds will go to green and social projects under Rönesans’ Sustainable Finance Framework, which follows the International Capital Market Association’s Green Bond Principles. AIIB’s investment will specifically finance wind power projects in Çorum, Sivas, Malatya, and Sibelres.
İpek Ilıcak Kayaalp, Chair of Rönesans Holding’s Board, says the issuance backs projects driving Türkiye’s green future.
“AIIB’s partnership strengthens our capacity to expand renewable energy investments and deliver lasting benefits for communities and the environment,” she said.
