TSKB and KfW signed two Loan Agreements

30 December 2010
- 2 min Read

TSKB and KfW signed two Loan Agreements with a scope of financing of renewable energy and municipal infrastructure investment projects

With a prominent track record in the financing of renewable energy and environmental investment projects, Industrial Development Bank of Turkey (TSKB) and KfW signed two new loan agreements for a total amount of € 91.7 million.

As the third phase of the “Climate Protection Programme” a € 55 million is extended to TSKB with a maturity of 12 years, including a 3 year grace period, that will be granted to subborrowers for projects promoting energy efficiency, renewable energy and the reduction of greenhouse gas emissions.

The second loan agreement is for a € 36.7 million funding that bears a 20 year tenor, including a grace period of 5 years, and will be used to finance municipal infrastructure investments in the Republic of Turkey. Both facilities were procured against a payment guarantee from the Republic of Turkey Prime Ministry Undersecretariat of Treasury.

TSKB emphasized the considerable potential of financing of the renewable energy sector, energy efficiency measures and infrastructure investments and indicated that with funds extended by international financial institutions TSKB will remain an active sponsor of projects in these sectors.

Denoting their history of cooperation of over 40 years with KfW, TSKB acknowledged its appreciation of KfW and its reassurance that on the occasion of these two new loans the long-term collaboration shall persist further developing.