TSKB secures €200 million in additional financing from the World Bank
The Industrial Development Bank of Turkey announced that it has secured a new additional resource from the World Bank to support the energy transition.
With the €200 million in additional financing secured from the World Bank, the Industrial Development Bank of Turkey has increased the total amount of resources under the program to approximately €515 million.
Details of the Additional Financing Agreement
The Industrial Development Bank of Turkey has brought an important resource to the country by concluding a new loan agreement with the World Bank.
According to the announcement, the €200 million in additional financing serves as a continuation of the 2024 program.
Scope of the Europe and Central Asia Program
The secured resource was provided under the Europe and Central Asia Renewable Energy Scaling-up Program, led by the World Bank.
This additional resource aims to expand the scope of the previously secured program of approximately €315 million.
Increase in Total Loan Amount
With this latest procurement of €200 million in additional financing, the total amount provided by the bank has reached approximately €515 million.
Under the second phase of the financing, the resources are aimed to be deployed through financial institutions.
Areas of Focus in the New Period
While the first phase of the program focused on low-voltage distributed solar energy investments, the scope is being expanded in the new period.
In the new period, wind projects, various solar energy applications, and battery energy storage systems will also be included in the process.