BSTDB President Highlights Role of Development Banks in Mobilising Climate Finance
At the Istanbul Climate Finance Summit, Dr. Serhat Köksal stresses the need to turn climate priorities into investable projects
BSTDB President Dr. Serhat Köksal participated in the Istanbul Climate Finance Summit, which brought together policymakers, representatives of academia and civil society, youth and the private sector to discuss climate finance and support a just, inclusive and climate-resilient transition.
Speaking at the Summit, Dr. Köksal stressed that mobilising climate finance requires more than the availability of capital. Projects also need to be technically sound, commercially viable and sufficiently prepared to attract financing.
He highlighted how development banks can help address investment barriers, structure appropriate financing solutions, mitigate risks and mobilise additional private capital. He also underlined the importance of cooperation among governments, international financial institutions, commercial banks and private investors in moving projects from concept to implementation.
In this context, Dr. Köksal reaffirmed BSTDB’s support for the Climate Implementation Bridge (BRIDGE), noting that the Bank stands fully behind the initiative and looks forward to serving as an active, constructive and reliable implementation partner.
Climate finance is an important part of BSTDB’s activity across the Black Sea region. The Bank supports investments in renewable energy, energy storage, energy efficiency and green finance, while working with international partners and commercial lenders to mobilise additional financing.
Under its Climate Change Strategy, BSTDB aims to gradually increase the share of its funding directed to climate-positive operations and operations with climate co-benefits to at least 30 per cent.
The Istanbul Climate Finance Summit was held on 4–5 September 2026, ahead of the UN Climate Change Conference (COP31), which will be held from 9–20 November in Antalya, Türkiye.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion.
