WORLD BANK LENDS OVER $200 MILLION TO TURKEY FOR RENEWABLE ENERGY.

Europe Energy, April, 2004

The World Bank has approved a loan of $202.03 million to finance renewable energy projects in Turkey. The loan, repayable over 12 years with a grace period of 4 years, aims to foster private enterprise energy production from renewable sources such as water and wind, within a framework reform of the electricity sector recently adopted by Ankara.

The World Bank also stressed that the project is in line with the environmental policy objectives of the European Union, which Turkey hopes to join.

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