Clean Technology Fund (CTF) provided 200 million USD consisting of low interest loan and technical assistance to support Turkey's private sector investments in the fields of energy efficiency and renewable energy.

In a written statement issued at World Bank office in Turkey, The Clean Technology Fund (CTF), jointly with the World Bank, International Finance Corporation (IFC), and European Bank for Reconstruction and Development (EBRD), launched the “Assessment Report of Clean Technology Fund in Renewable Energy and Energy Efficiency market in Turkey”.

The report stated that "as electricity demand has increased rapidly over the recent years due to high economic growth, Turkey faces the twin challenge of ensuring energy security and containing greenhouse gas emissions to mitigate climate change".

As stated in the report, CTF to date in total has provided USD 200 million in soft loans and technical assistance to promote private sector investment in Turkey's energy efficiency and renewable energy projects. 

 "Backed by this commitment, EBRD provided and mobilized USD 285 million and IFC provided USD 255 million for financing RE/EE projects through financial institutions," the report indicated.

AA