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FinancialNews
19-04-22
EBRD inaugurates fund service of USD651M to help Turkey’s green changeover
(MENAFN) According to Arthur Poghosyan, deputy head of Turkiye, financial institutions at the EBRD, exclusive statement to Anadolu Agency, the European Bank for Reconstruction and Development (EBRD) inaugurated a fresh Green Economy Financing Facility (GEFF) of €500 million (USD651.46 million) to speed up the green changeover in the country’s monetary system and raise investments to fulfill climate obligations.
The EBRD's fresh GEFF joins EBRD finance with around €21.5 million (USD28.01 million) of concessional financing from the Clean Technology Fund (CTF) and €7.1 million (USD9.25 million) in allowances for technical aid from the CTF, and the Turkiye–EBRD Cooperation Fund amongst others.
He stressed, "it is the largest among our previous such energy efficiency-related facilities in Turkey. The size and the design of the new GEFF is a response to Turkey's ambitious new climate commitments after the ratification of the Paris Agreement. Meeting these commitments will require a sharp increase in green investment."
MENAFN19042022000045013568ID1104049107
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