Türkiye secures $75M AIIB financing for Kirklareli manufacturing plant

The Asian Infrastructure Investment Bank has approved $75 million in financing for an advanced green manufacturing facility in northwestern Türkiye's Kirklareli province, with the plant set to become Chinese manufacturer Great Rich Technology's first production base outside China, according to bank officials. The project will be co-financed by the World Bank Group's International Finance Corporation, and the facility will produce energy-efficient window films, paint protection films, and specialized materials designed to absorb carbon dioxide and volatile organic compounds.

The investment aims to reduce industrial emissions, expand the availability of low-emission advanced materials in emerging markets, and help solidify Türkiye's position as a manufacturing hub bridging Europe and Asia, the bank noted.

Strategic partnership

Ajay Bushan Pandey, vice president of the AIIB, told Anadolu that the bank has invested $9 billion across approximately 40 projects in Türkiye over the past decade. "$9 billion and about 40 projects we have invested in, and then there are many more projects in the pipeline," he said. "We have our second-largest investment in Türkiye, (and) the only country that is first is India, (…) but if you look at it per capita wise, I think Türkiye will be the highest."

Pandey stated that the bank maintains no cap on financing for Ankara, explaining that the institution can fund all viable projects identified jointly with Turkish authorities. "If we are able to identify good projects along with the Turkish government, we can finance them; therefore, we do not have any such target or limitation — let's say if we are able to identify 10 projects, we will try to finance all 10 over the next few years," he said.

Climate and energy focus

The vice president noted that the AIIB's current portfolio concentrates on energy, transportation, waste management, urban development, and climate resilience — sectors aligned with the themes of sustainable cities, electrification, and zero waste being discussed at COP31. "If you look at COP31 (or the UN Climate Change Conference), these are the themes: sustainable cities, electrification, and zero waste — all those are already in our portfolio and these are the portfolios where we would like to do more," he said.

Pandey emphasized that renewable energy and electrification have become integral components of energy security policy in the current geopolitical climate, adding that multilateral development banks play a crucial role in bridging the infrastructure financing gap through direct funding and private capital mobilization. The AIIB has also approved a geothermal project for Türkiye, according to the statement.