Garanti BBVA Participates in €1.7 Billion Sustainability-Linked Financing for the Antalya–Alanya Highway Project
Garanti BBVA has signed one of the largest sustainability-linked loan transactions ever extended to a corporate borrower in Türkiye by acting as Sustainability Coordinator throughout the loan tenor of the €1.7 billion financing provided for the Antalya–Alanya Highway Project.
As part of the project, one of Türkiye’s most significant infrastructure initiatives, Garanti BBVA also achieved a first within its own portfolio by executing its first sustainability-linked interest rate swap (IRS) transaction. The financing structure, which brings together a total of 14 financial institutions—including Turkish banks as well as international banks and development finance institutions—constitutes a model of collaboration that contributes to the development of a sustainable financial architecture.
Garanti BBVA Executive Vice President Sinem Edige said: “This financing model sets a new benchmark for sustainable infrastructure investments in Türkiye. According to the Independent Economic Impact Assessment Report, the project is expected to significantly increase the region’s economic value through direct spending, supply chain linkages, and higher employee incomes. At Garanti BBVA, we are proud to serve as sustainability coordinator for this project throughout the loan term, supporting an initiative that delivers both a positive environmental and economic impact.”
Designed in line with sustainability objectives
Garanti BBVA continues to foster next-generation, sustainability-focused financing models for infrastructure projects. The financing for the Antalya–Alanya Highway Project has been structured within a robust sustainability framework. Under this framework, the project’s priority sustainability objectives include sustainable construction practices, the use of renewable energy, the development of EV charging infrastructure, and the promotion of gender equality. In addition, the project aligns with well-known international sustainability standards, including the IFC Performance Standards and the Equator Principles.
Once completed, the highway will reduce travel time between Antalya and Alanya from 2.5–4 hours to just 36 minutes and is expected to boost the local economy through tourism, trade and regional development.