The Asian Infrastructure Investment Bank (AIIB) will invest up to USD40 million in sustainable bonds for Project Manzara in Türkiye, reinforcing its strategic partnership with Rönesans Holding A.Ş. and supporting the country’s renewable energy transition.
This marks the third closed transaction between AIIB and Rönesans, underscoring the strong and growing relationship with one of Türkiye’s leading development and investment groups.
The investment will support a “tap” (incremental) issuance of Rönesans’ first sustainable bond, launched in October 2024. By expanding this transaction, AIIB continues to promote the development of sustainable capital markets in Türkiye.
AIIB and Rönesans have previously partnered on major infrastructure projects, including a EUR150 million loan to cofinance the North Marmara Highway - Nakkaş-Başakşehir- BOT Project in Türkiye and a USD113.9 million loan for the Kokshetau PPP Hospital Project in Kazakhstan.
“This third transaction with Rönesans reflects AIIB’s commitment to fostering sustainable capital markets in Türkiye and supporting climate-aligned infrastructure,” said Najeeb Haider, Director General, Project and Corporate Finance Clients Department, Global, AIIB. “Through Rönesans’ sustainable bond program, we are supporting renewable energy projects with measurable environmental and social benefits. This collaboration exemplifies AIIB’s client-centric approach and long-term partnership with Rönesans in Türkiye and Central Asia.”
Proceeds will be allocated to eligible green and social projects under Rönesans’ Sustainable Finance Framework, which aligns with the International Capital Market Association’s Green Bond Principles.
AIIB’s investment will specifically finance wind power projects in Çorum, Sivas, Malatya and Sibelres.
“This tap issuance supports projects that drive Türkiye’s green future,” said İpek Ilıcak Kayaalp, Chair of the Board, Rönesans Holding. “AIIB’s partnership strengthens our capacity to expand renewable energy investments and deliver lasting benefits for communities and the environment.”
The investment advances AIIB’s priorities in green infrastructure and private capital mobilization by channeling institutional financing toward renewable energy generation. It also applies AIIB’s Environmental and Social Policy and Standards to ensure that projects are implemented responsibly, with due consideration for environmental protection, local communities and long-term resilience.
About AIIB
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank dedicated to financing “Infrastructure for Tomorrow,” with sustainability at its core. AIIB began operations in 2016, has 110 approved members worldwide, is capitalized at USD100 billion and is AAA-rated by major international credit rating agencies. AIIB works with partners to mobilize capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity.
About Rönesans
Rönesans Holding is a Turkish conglomerate headquartered in Ankara, engaged in construction, energy, healthcare, real estate development and industrial investments. Established over 30 years ago, the company operates in around 30 countries across Europe, Central Asia and Africa, and ranks among the largest contracting firms globally and one of the largest in Europe.
