EBRD to give 50 mln euro loan to Turkey’s İşbank

BRUSSELS - Reuters

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 İşbank. The loan will provide İşbank 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 İşBank for on-lending to renewables and energy efficiency projects, with a total of 140 million euros provided for those purposes to date.” 

Yılmaz Ertürk, the Deputy Chief Executive of İşbank, said: “As we conclude another successful deal with the EBRD, we are pleased to say that with these funds İşbank continues to increase its support for energy efficiency and renewable energy projects.”