Türkiye Will Benefit from 1 Billion Dollar Decarbonization Program
06 Jul 2025A group of countries, including Turkey, will work with investors to create a detailed plan for emissions reductions in carbon-intensive sectors.
The Climate Investment Fund (CIF), a multilateral lender, has identified 26 countries that will benefit from a $1 billion program to reduce emissions from industrial sectors.
Countries such as Brazil, Egypt and Mexico, selected along with Turkey, will work with investors to create a detailed plan on how to decarbonise industrial sectors that account for one-third of global emissions.
All countries will have access to cheap financing under CIF's Industrial Carbon Reduction Investment Programme. The program, which is part of CIF's $9 billion Clean Technology Fund, allows 100% of the financing to be directed to private sector-led projects or projects attracting significant private sector co-investments, with a minimum allocation of 50%.
CIF Chief Executive Officer Tariye Gbadegesin said in her statement: "Decarbonizing the industry is not just about emissions. It is also a way to ensure long-term prosperity and the jobs of the future."
“The program will encourage the production of low-carbon industrial inputs urgently needed to expand renewable energy capacity and strengthen the global economy.”
CIF, which was founded in 2008 and has pledged $12.5 billion in support from countries, provides early-stage grants and concessional loans that can help attract funds from other investors with lower risk tolerance.
Source: Climate News
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