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US Ex-Im Bank to provide USD 1 billion loan to Turkish energy projects

Lizbon Büyükelçiliği 26.07.2010

The Turkish Ministry of Energy and Natural Resources has signed a memorandum of understanding (MoU) with the Export-Import Bank of the US (Ex-Im Bank) to provide financing for renewable energy and energy efficiency projects in Turkey.

Taner Yildiz, Turkey’s Minister of Energy and Natural Resources, said the agreement includes a loan deal totaling USD 1 billion for renewable energy and energy efficiency projects. “This is the beginning stage of cooperation that will cover various projects in the fields of wind, solar and geothermal energy”, said Yildiz, adding that investors will be able to use the loan through banks in Turkey. Ex-Im Bank’s Chairman and President Fred P. Hochberg said Turkey is the fastest growing country in their nine priority countries chosen for Ex-Im Bank financing.

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