New partnership aims to connect financial institutions and investors with Türkiye’s industrial decarbonization priorities and support investment through the Türkiye Industrial Decarbonization Investment Platform
Antalya, Türkiye, November 11, 2026 – The Glasgow Financial Alliance for Net Zero (GFANZ) and the Ministry of Industry and Technology of the Republic of Türkiye (MoIT) today announced a new partnership to help accelerate investment in Türkiye’s industrial decarbonization by strengthening cooperation between the government, development finance institutions and the private financial sector to advance the country’s climate and industrial development priorities.
Formalized through a Memorandum of Understanding signed at COP31 by Ahmet Halit Hatip, Director General of the Ministry of Industry and Technology of the Republic of Türkiye, and Mary Schapiro, Vice Chair of GFANZ, in the presence of H.E. Mehmet Fatih Kacır, Minister of Industry and Technology of the Republic of Türkiye, and Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD), the partnership establishes GFANZ as the private sector finance partner to the Türkiye Industrial Decarbonization Investment Platform (TIDIP). Together, MoIT and GFANZ will establish a structured program to engage financial institutions and investors in addressing financing barriers and advancing solutions to mobilize private capital for Türkiye’s industrial transition.
“Our cooperation with GFANZ marks an important step in strengthening the private finance dimension of the Platform and connecting Türkiye’s strong pipeline of industrial transition projects with global sources of capital,” said H.E. Mehmet Fatih Kacır, Minister of Industry and Technology of the Republic of Türkiye. “Together, we are building a collaborative model that can deliver tangible climate and development outcomes.”
“Country platforms can help turn national priorities into investable opportunities by bringing governments, development finance institutions and private capital together with clear roles and a shared focus on delivery,” said Mary Schapiro, Vice Chair of the Glasgow Financial Alliance for Net Zero. “Türkiye has built strong foundations through TIDIP, and we are pleased to partner with the Ministry and TIDIP’s partners to create a structured channel for financial institutions and investors to engage on the project pipeline, identify barriers and help develop practical solutions that can mobilize more private capital for Türkiye’s industrial transition.”
Through this partnership, GFANZ will work with MoIT, the TIDIP Secretariat and its partners, including multilateral development banks and development finance institutions, to develop and implement a Private Finance Engagement Program. The program will provide a structured channel for financial institutions and investors to engage with TIDIP, share perspectives on investment opportunities and financing challenges, and contribute to the development of solutions that can help mobilize private capital.
The collaboration will focus on three areas:
- Strengthening engagement with private finance: Convening financial institutions and investors through regular workshops, working groups and other forums to deepen understanding of Türkiye’s industrial decarbonization priorities and investment opportunities.
- Addressing barriers to investment: Facilitating dialogue between financial institutions, MoIT and TIDIP partners to identify financing challenges and explore practical solutions to improve the bankability of industrial decarbonization projects.
- Supporting capital mobilization: Working with TIDIP partners to explore opportunities to connect industrial projects with appropriate financing solutions and mobilize investment at scale.
As part of the agreement, MoIT may also invite GFANZ to join the TIDIP Advisory Board or other consultative body established within its governance structure, providing an additional channel for strategic dialogue, technical expertise and private sector perspectives to inform the platform’s work. GFANZ will serve as a neutral convener of private financial institutions and investors, supporting collaboration with MoIT and TIDIP’s development finance partners.
Established by MoIT in cooperation with multilateral development banks including the European Bank for Reconstruction and Development (EBRD), the World Bank (IBRD) and the International Finance Corporation (IFC), TIDIP is a country-owned platform designed to mobilize the finance needed for a rapid, resilient and just low-carbon transition in Türkiye’s industrial sector, in line with the country’s National Green Deal Action Plan, Nationally Determined Contribution and 2053 net-zero target.
Under a Joint Declaration signed by MoIT and its multilateral development partners in November 2024, TIDIP aims by 2030 to deploy more than €100 million in technical assistance and concessional finance, support more than €5 billion in decarbonization projects under implementation, and reduce greenhouse gas emissions by more than 20 million tons of CO2-equivalent annually. The platform initially focuses on Türkiye’s hard-to-abate sectors, including iron and steel, cement, aluminum and fertilizers, with potential expansion to additional sectors over time.
The new partnership builds on GFANZ’s broader efforts to support country-led investment platforms, including the Brazil Climate and Ecological Transformation Investment Platform (BIP), and complements the work of the Industrial Transition Accelerator (ITA), which supports the advancement of individual industrial decarbonization projects toward final investment decisions.
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About the Ministry of Industry and Technology of the Republic of Türkiye
The Ministry of Industry and Technology of the Republic of Türkiye is the leading public institution responsible for shaping and implementing policies that promote industrial development, technological innovation, entrepreneurship, and sustainable economic growth. The Ministry plays a central role in strengthening Türkiye’s competitiveness through support for research and development, advanced manufacturing, digital transformation, green transition, regional development, and strategic investments, while fostering collaboration between the public sector, industry, academia, and international partners.
Media contact: basin@sanayi.gov.tr
About GFANZ
The Glasgow Financial Alliance for Net Zero (GFANZ) is an independent, private-sector-led initiative focused on mobilizing capital and removing barriers to investment in the global transition. GFANZ brings together financial sector firms — including banks, insurers, asset owners, asset managers, and service providers — and is globally active through Regional Networks in Africa, Asia Pacific, and Latin America & Caribbean, as well as Chapters in Brazil, the Caribbean, Japan, and Hong Kong.
Media contact: press@gfanzero.com