TSKB has obtained 150 million USD loan from the World Bank for geothermal energy

1 December 2016
- 4 min Read

The Industrial Development Bank of Turkey (TSKB) has obtained 150 million USD loan within the scope of the Geothermal Development Project. The aim is to utilise the loan to finance the geothermal investments of the private sector companies throughout Turkey.

The Industrial Development Bank of Turkey (TSKB) has signed a new loan agreement to be utilised in sustainable energy investments. The 150 million USD loan obtained within the scope of the agreement, signed with the World Bank, will be used to support the geothermal energy investments in Turkey.

Suat İnce, the Chief Executive Officer of TSKB, who commented on the facility, which has been obtained within the framework of the “Geothermal Development Project” of the World Bank under the Turkish Treasury’s Guarantee and said, “Supporting renewable energy investments is among the most important sustainability priorities of TSKB. In that respect, TSKB has financed 13 percent of the installed renewable energy capacity of Turkey up to now. We are very happy to be strengthening this support further through this new loan agreement signed with the World Bank. We believe that this facility will make a difference in increasing the geothermal energy capacity of our country, in its transition to a low carbon economy, and in reducing its import dependency in energy.”