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Loan Agreement between Development Bank of Turkey and World Bank
 
Home Page \ Kalkınma News \ Loan Agreement between Development Bank of Turkey and World Bank

A Loan Agreement of $180 Million between Development Bank of Turkey and Islamic Development Bank

A 180-Million-Dollar loan from development bank of Turkey for renewable energy and energy efficiency projects.

A Loan Agreement of $180 million between Development Bank of Turkey and World Bank was signed on June 9th, 2009, in Ankara, under the aegis of the Turkish Undersecretary of Treasury.

Attaching a great importance to energy investments in the new period, our Bank will use this loan in the financing of renewable energy and energy efficiency projects.

Of the loan in the context of “Public Sector Renewable Energy and Energy Efficiency Project”, $150 million were allocated by World Bank, and $30million by “Clean Technology Fund” (CFT).

The loan granted by World Bank has a term of 25 years and a grace period of 10 years, while those of the CFT loan are 20 and 10 years respectively.