EBRD Supports Green Energy Investments in Turkey
21 December 2012: The European Bank for Reconstruction and Development (EBRD) has provided €50 million to Finansbank for on-lending to private companies investing in renewable energy, industrial energy efficiency and waste-to-energy projects in Turkey.
This investment seeks to lead to an increase in the use of renewable energy technologies to help Turkey's energy-intensive economy reduce greenhouse emissions. Financing is provided under EBRD's €700 million Mid-size Sustainable Energy Financing Facility (MidSEFF), which is coordinated with the European Investment Bank (EIB). Noel Edison, Director for Insurance and Financial Services at the EBRD, highlighted that green energy is profitable and that by further securing funding for the private sector, the burden of initial investments into renewable and efficient energy is eased. [EBRD News]