In response to growing demand, the European Bank for Reconstruction and Development (EBRD) is providing US$ 110 million in new funds to Turkish lender Akbank to finance private companies investing in renewable energy and resource efficiency projects in Turkey.
The financing – supported by the Turkish Ministry of Energy and Natural Resources and a €1.9 million grant from the European Union – will benefit renewable energy and resource efficiency projects in Turkey including solar, hydropower, wind, geothermal, waste-to-energy and energy efficiency as well as water saving and waste minimization projects, according to EBRD.