Finance: EBRD to give 50 mln euro loan to Turkey's Isbank

24 December, 13:47

    (ANSAmed) – ISTANBUL, DECEMBER 24 - The European Bank for Reconstruction and Development (EBRD) is continuing to support the efforts of Turkish businesses to become more energy efficient, through a new 50 million euros financing package to Turkey’s Isbank. The loan, as daily Hurriyet reports, will provide Isbank with long-term financing for sustainable energy investments under the EBRD’s Mid-Size Sustainable Energy Financing Facility. These investments will include mid-sized renewable energy and waste-to-energy projects, as well as energy efficiency upgrades. Mike Davey, the EBRD Director for Turkey, said: “EBRD financing of renewables and energy efficiency not only helps to fight climate change, but it also helps to bring private investment to the market. This is our third financing package to IsBank for on-lending to renewables and energy efficiency projects, with a total of 140 million euros provided for those purposes to date.” (ANSAmed).

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