Turkey gets 300 mln Euros of loan from European Investment Bank

The two loans will be used to support investments on renewable energy resources and environmental projects, the Turkish Treasury said in a statement issued in Ankara.

Turkey gets 300 mln Euros of loan from European Investment Bank
Turkey has been granted 300 million Euros in the form of two loans by the European Investment Bank, it was announced late Thursday.

NTV reported the two loans will be used to support investments on renewable energy resources and environmental projects, the Turkish Treasury said in a statement issued in Ankara.

According to the Treasury, 200 million Euros of the loan will be used to support private and public investments for renewable energy resources and projects aiming at mitigating industrial pollution.

The remaining 100 million Euros of the loan would be used to finance construction and procurement works of the railway project in northwestern province of Bursa.

Earlier Thursday, Turkish Energy Minister Hilmi Guler said the government was looking to save 315 million Euro between now and 2013 with an annual production of 4.4 billion kw/hr through geothermal power plants.

During a visit to Iceland, Guler said that in terms of geothermal energy potential, Turkey ranked 7th in the world and 1st in Europe with a potential of 31,500 MWs. However, currently it was was only producing a total of 30 MWs at three geothermal power plants. Guler said they wanted to increase this to a total of 550 MWs by 2013.

Last Mod: 09 Mayıs 2008, 18:47
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