Huge investment from the World Bank to Türkiye’s electricity infrastructure

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Huge investment from the World Bank to Türkiye’s electricity infrastructure

By admin, Kasım 26, 2024

Huge investment from the World Bank to Türkiye’s electricity infrastructure





Huge investment from the World Bank to Türkiye's electricity infrastructure



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World BankIn total, over the next few years in order to improve Turkey’s electricity transmission infrastructure. An investment of 1.5 billion dollars promised to do it. In this context, World Bank Türkiye Director announced that preparations are continuing for a 750 million dollar operation in the first phase. Humberto Lopez stated that these investments are of critical importance for Turkey to achieve its green development goals.

An important step towards the “Net-Zero 2053” goal

Organized by the German Embassy in Ankara and SEFiA “Financing Turkey’s Green Development on the Path to Net-Zero 2053” Speaking at the panel titled, Lopez emphasized that reducing carbon emissions in electricity production is a necessity for Turkey’s sustainable development goals.




Huge investment from the World Bank to Türkiye's electricity infrastructure



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Lopez, “This is transmission lines will be done to improve 750 million We have committed to an operation worth $100,000 and an investment of $750 million in a few years. This in 2-3 years in total $1.5 billion It does. But this is not enough. We need to do more.” made his assessment.

Lopez stated that they carry out joint projects with the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC), as well as the World Bank. To be used in capital increase projects for Turkey’s industrial sector A new financing package worth $5 billion in total Reminding that it was signed, Lopez said, “Last year, the World Bank alone approved $2 billion for the industry, and we also signed a $1 billion agreement with Turk Eximbank. Turk Eximbank will provide loans to companies that want to comply with regulations to reduce carbon emissions.” he said.

Green financing emphasis from the German Development Bank

Speaking at the panel, German Development Bank (KfW) Ankara Director Kirk Mildner announced that the green financing portfolios in Turkey are at the level of 1.4 billion euros. Mildner said that they are focusing on solar roof systems and renovation projects for energy efficiency in the public sector, especially in schools.

Stating that KfW’s green financing efforts in Turkey will expand further, Mildner said, “Most likely, today and tomorrow, discussions will be held on providing additional financing packages through KfW.” he said.

























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