EBRD Supports Turkey's Green Energy Transition with 14 Billion Euros

European Bank for Reconstruction and Development (EBRD) President Odile Renaud-Basso reported at the Global Finance Summit held within the scope of COP31 that 14 billion euros, corresponding to more than half of the investments in Turkey, has been allocated to green energy.

The "Global Finance Summit" session was held within the framework of the 31st UN Climate Change Conference of the Parties (COP31), hosted by Turkey for the first time. During the session attended by Minister of Treasury and Finance Mehmet Şimşek and EBRD President Odile Renaud-Basso, it was emphasized that Turkey ranks at the top of the countries in which the bank invests the most.

EBRD President Renaud-Basso stated that 14 billion euros, constituting more than half of the investments made in Turkey to date, has been allocated to green energy, expressing that this is their highest priority. Touching upon the country's economic resilience and the flexibility of actors, Renaud-Basso noted that their aim is to continue supporting the economic model with the green transition.

Stating that Turkey's target of 175 gigawatts of wind and solar energy by 2040 is ambitious, Renaud-Basso drew attention to the cost advantage and high potential of renewable energy. Expressing that fluctuations in energy prices create dependency and pose risks, Renaud-Basso added that this situation provides an additional incentive in terms of sustainable economic development and competitiveness.