Isbank renewable energy projects in Turkey
In 2016 the EBRD provided US$ 55 million in new funds to Turkish lender Isbank to finance private companies investing in renewable energy and resource efficiency projects in Turkey.
It is part of the EBRD’s strategy to help Turkey meet a growing demand for electricity and diversify away from expensive imported fuel, while addressing the challenges of climate change.
The financing – supported by a €1.9 million grant from the European Union – will benefit renewable energy and resource efficiency projects in Turkey including solar, hydropower, wind, geothermal, waste-to-energy and energy efficiency as well as water saving and waste minimisation projects.
Ișbank is the largest private lender in Turkey and a long-standing partner of the EBRD. The new financing builds on Ișbank’s solid track record in on-lending the Bank’s funds aimed at renewable energy and resource efficiency projects.