One of the most significant guiding criteria in project design and implementation is sustainable development. Banks play a critical role in environmental protection and the transition to a green economy. Green financing is an innovative financial tool that aims to achieve ecological balance while promoting economic growth. The current study intends to construct and analyze a project financing model by allocating bank resources to accomplish sustainable economic development in Iran through a three-step method. In the first step, this study used a data-based technique to identify 77 components in 21 categories while interviewing 16 experts and coding. Then designed the relevant model and explained the hypotheses. The second step used the structural equation modeling method to evaluate the model fit and test the hypotheses. Finally, the components of green financing were prioritized using the interpretive structural modeling method. According to experts, the findings show that extracted components have a direct and significant impact on the green financing of projects. Furthermore, the Iranian banking industry's main aspects of green financing are currently at a low degree of readiness. As two significant components, increasing recognition of the needs for green projects and green targeting of banks based on their purpose plays a vital role in operationalizing the green financing of projects by allocating bank resources to promote sustainable development .