IFC Grants €100 Million Loan to Boost Electric Vehicles in Türkiye
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The International Finance Corporation (IFC) on Monday announced a €100 million loan to Doğuş Otomotiv Servis ve Ticaret A.Ş. (Doğuş Otomotiv), one of Türkiye’s leading automotive distributors and retailers. The financing aims to accelerate the growth of the electric vehicle (EV) market while supporting skilled employment opportunities across the country.
IFC said in a statement that the funding will enable Doğuş Otomotiv to expand its EV portfolio, strengthen distribution channels, and invest in after-sales and maintenance facilities. By broadening access to electric mobility, the initiative is expected to reduce reliance on imported fossil fuels, cut greenhouse gas emissions, and make sustainable transport more affordable for Turkish consumers.
Kerem Talih, Chief Financial Officer of Doğuş Otomotiv, welcomed the collaboration, noting it underscores international confidence in the company’s sustainability practices. “The loan will allow us to step up our investments and play a leading role in developing Türkiye’s EV ecosystem,” he said.
Ashruf Megahed, IFC’s Regional Industry Head for Manufacturing, Agribusiness and Services in the Middle East and Central Asia, highlighted the broader impact of the partnership. “This marks the beginning of our engagement with Doğuş Otomotiv and reinforces IFC’s commitment to advancing Türkiye’s automotive sector. By expanding EV access and creating skilled jobs, we are driving innovation and sustainable growth in one of the region’s most dynamic markets,” he said.
Türkiye’s automotive retail industry is among the largest in its region, and the rapid rise of EVs presents fresh opportunities for workforce upskilling and job creation. Doğuş Otomotiv’s commitment to electric mobility is expected to set higher environmental standards and foster long-term competitiveness in the sector.
Source: ifc.org
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