The contribution of World Bank financing to Türkiye’s green transition: An examination of renewable energy projects in Türkiye

Although the role of multilateral development banks in renewable energy financing has attracted increasing attention in the literature, there is limited evidence regarding the project-level characteristics of World Bank-financed renewable energy investments in Türkiye. This gap is particularly important given Türkiye’s growing commitment to sustainable development and green transition objectives. Therefore, the purpose of this study is to examine the renewable energy projects financed by the World Bank in Türkiye through a qualitative document analysis approach. Between 2000 and 2024, a total of 14 renewable energy projects were identified, one of which was canceled at the draft stage. In addition, three projects were designed as additional financing for previously approved projects. The projects evaluated in this study reached a total cost of approximately USD 6 billion, of which nearly USD 5 billion was financed by the World Bank. This demonstrates that international development finance constitutes a highly important resource for Türkiye’s transition to renewable energy. The financing provided by the World Bank has not only been limited to alternative energy production but has also encouraged the participation of both the private sector and public institutions in green energy investments. Overall, the World Bank’s financing policies toward renewable energy projects in Türkiye support the country’s sustainable development goals. These financial supports play a critical role in reducing carbon emissions, enhancing energy supply security, and accelerating the transition to a green economy.