EBRD provides loan to Tersan Tersanecilik

LONDON

The European Bank for Reconstruction and Development (EBRD) is providing a 12.5 million euros loan to Turkish ship maintenance company Tersan Tersanecilik to finance capital expenditure, including for the extension of a repair berth and the installation of solar panels.

The loan will help strengthen Tersan’s competitive position by enabling it to increase the number of ships being equipped with ballast water management systems and step up a number of eco-friendly and efficient repairs and cost-efficiency improvements, the development bank said in a statement.

“The proceeds of the loan will also enable the company to generate electricity for internal consumption through the use of solar panels, resulting in a reduction of 2,789 tCO2 of scope 2 emissions annually,” the statement added.

This will decrease the company’s energy costs and, consequently, its operating expenses.

The EBRD is a leading institutional investor in Türkiye.

Since 2009, the Bank has invested almost 17 billion euros in various sectors of the country’s economy, mostly in the private sector.