TSKB Provides $10 Million in Financing to SOCAR Fiber for Digital Infrastructure Investment
TSKB has provided SOCAR Fiber, SOCAR Türkiye’s digital infrastructure company, with a $10 million, 4-year digital infrastructure loan. With the loan secured under the project financing provided by the Asian Infrastructure Investment Bank (AIIB) as the source provider, SOCAR Fiber will strengthen its fiber optic infrastructure stretching from east to west across Türkiye.
TSKB (Industrial Development Bank of Türkiye), will provide SOCAR Fiber, SOCAR Türkiye’s digital infrastructure company, with $10 million in digital infrastructure-themed financing with a 4-year maturity under the TSKB Sustainable Energy and Infrastructure Phase 3 Loan, sourced from the Asian Infrastructure Investment Bank (AIIB), to strengthen the fiber optic infrastructure across Türkiye using more modern technologies.
SOCAR Fiber, which serves with a 1,850 km fiber optic network spanning Türkiye from east to west, provides communication infrastructure services to domestic and international telecom operators through its existing infrastructure. The company aims to make Türkiye's digital backbone more resilient with the financing obtained for investments to renew the energy infrastructure at communication points and data operation buildings within its existing fiber optic infrastructure. Thanks to the new investments, infrastructure resilience will be increased, enabling service continuity even in the event of possible power outages. This will contribute to improving the quality of services provided to domestic and international telecommunications companies and strengthening Türkiye's strategic role in the digital economy.
Commenting on the matter, SOCAR Fiber General Manager Kanan Mammadov said, "With the financing provided under this partnership with TSKB, we aim to make our fiber optic infrastructure more resilient, efficient, and sustainable. This investment aims to create an infrastructure that is ready not only for today's communication needs but also for the data traffic of the future. With our strategic investments, we aim to make Turkey the center of short and reliable terrestrial data routes between Europe, Asia, and the Middle East. This new route will offer an alternative to traditional submarine cable routes, providing lower latency and higher security in data transportation. With our strengthened digital backbone, we will continue to offer uninterrupted connectivity and high performance to telecom operators and internet service providers."
Commenting on the agreement, TSKB General Manager Ozan Uyar said, "At TSKB, we are pleased to support investments in digital infrastructure, one of the most important components of sustainable development. This collaboration with SOCAR Fiber will accelerate our country's digital transformation and contribute to the widespread adoption of energy-efficient infrastructure systems. This financing, which demonstrates the applicability of sustainable financing models focused on digital infrastructure in our country, also highlights the importance of connecting private sector investments with international financing. We aim to continue strengthening Türkiye's capacity in the field of sustainable financing by effectively utilizing international resources in the financing of such investments."
About SOCAR Fiber
Established in 2013 to meet the increasing IP traffic and fast communication needs, SOCAR Fiber provides highly secure electronic communication and network services using the latest technologies. With its 1,850 km fiber optic network spanning Türkiye from east to west, SOCAR Fiber serves 20 provinces and 67 districts, providing operators with a high-capacity backbone network infrastructure.
SOCAR Fiber ensures security with a dual-channel and dual fiber optic cable system along the route and also provides backup fiber optic network support to TANAP, which transports Azerbaijani natural gas to Türkiye and Europe. Continuing its business development activities by evaluating the global potential in the telecommunications sector, SOCAR Fiber aims to offer additional capacity and line backup solutions to regional and international operators.
About TSKB
TSKB (Türkiye Industrial Development Bank) was established in 1950 as Türkiye's first and only privately capitalized development and investment bank. Distinguished by its deep knowledge accumulated over many years and the wide range of services it offers its customers, TSKB supports Türkiye's sustainable development in the areas of corporate banking, investment banking, and consulting. TSKB stands out in the financial sector with its banking model that produces solutions to combat climate change and supports the transition to a low-carbon economy, as well as its sustainability-themed loans. Nearly all of TSKB's total loan portfolio consists of support for investments in strategic areas of our country, such as renewable energy, energy and resource efficiency, the environment, women's and youth employment, and access to inclusive finance.