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Türkiye gets green transformation funding from World Bank

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Türkiye gets green transformation funding from World Bank

Published September 22,2023


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Türkiye has signed a €859.7 million ($966 million) financing take care of the World Bank for inexperienced transformation, the Treasury and finance minister stated.

The financing is a part of the World Bank’s pledge to supply $35 billion in funding to Türkiye over a three-year interval, Mehmet Simsek instructed Anadolu.

This financing can be utilized in new investments in the true sector, particularly in reconstruction within the wake of earthquakes this February in addition to inexperienced transformation, he famous.

In this context, the 2 sides signed agreements to supply financing of €500 million beneath the Renewable Energy Project within the Public and Municipalities to be applied by the Environment, Urbanization and Climate Change Ministry and Türkiye’s Iller Bankasi.

Financing of €395.75 million was offered for the Türkiye Water Circularity and Efficiency Improvement Project to assist handle the challenges of local weather change-induced water shortage and cut back wastewater air pollution in water-stressed areas.

“We act as a bridge in meeting the financing needs of ministries and local governments regarding renewable energy and water efficiency. In this context, we signed a loan agreement with the World Bank with a total amount of €895.7 million,” Simsek stated.

Simsek additionally not too long ago introduced that the World Bank doubled funding to $35 billion for the subsequent three-year interval.

Source: www.anews.com.tr

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