IFC provides 100 million euros in financing to Doğuş Otomotiv

ISTANBUL

The International Finance Corporation (IFC) — a member of the World Bank Group — announced on Sept. 1 it would provide 100 million euros in loan financing to Doğuş Otomotiv, a leading automotive distributor and retailer, to enable it to expand the electric vehicle market and support skilled jobs in Türkiye.

The investment will help Doğuş Otomotiv purchase and distribute electric vehicles across Türkiye, while supporting continuous investments in sales growth and maintenance capabilities, IFC said in a statement.

By increasing the availability of electric vehicles, the loan will make sustainable mobility more accessible, reduce dependence on imported fossil fuels and lower greenhouse gas emissions, it added.

“Our collaboration with IFC reflects global confidence in Doğuş Otomotiv’s environmental and social performance,” said Kerem Talih, Chief Financial Officer of Doğuş Otomotiv. “The loan will enable us to accelerate our investments and lead the development of Türkiye’s electric vehicle ecosystem,” he added.

“This collaboration marks the beginning of our partnership with Doğuş Otomotiv, reflecting IFC’s ongoing commitment to supporting the development of Türkiye’s automotive sector,” commented Ashruf Megahed, IFC Regional Industry Head, Manufacturing, Agribusiness and Services in the Middle East and Central Asia.

“By helping to expand the availability of electric vehicles and foster local job creation, we are promoting sustainable growth and innovation in Türkiye’s automotive industry, one of the region’s most dynamic markets,” Megahed said.