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Türkiye secures $748M from World Bank to upgrade electricity grid REGION Türkiye has secured $748 million in concessional financing from the World Bank to modernize and expand its electricity transmission infrastructure, bringing the country’s total external concessional funding for 2025 to nearly $7 billion. The Türkiye Electricity Transmission System Transformation Project was approved by the World Bank's Executive Directors and will be implemented by the Türkiye Electricity Transmission Corporation (TEİAŞ). As part of the project, approximately $748 million in financing will be provided to Türkiye Electricity Transmission Corporation (TEIAS), backed by a repayment guarantee from the ministry. The financing includes $708 million in loans from the World Bank, $38 million from the Clean Technology Fund (CTF),and $2 million in grant support under the CTF framework. The funds are backed by a repayment guarantee from the Turkish Treasury and Finance Ministry. - Project aims to boost grid capacity, integrate renewables The project aims at eliminating operational constraints in Türkiye’s electricity transmission system and expand the national transmission ring. It will also enh…

World Bank to continue financing new energy projects in Türkiye Get Alerts The World Bank will continue supporting Türkiye’s clean energy transition with new projects, following the signing of a recent $750 million loan to strengthen the country’s electricity transmission network, the bank’s Country Director Humberto Lopez said.Lopez told Anadolu on the sidelines of the 11th Energy Efficiency Forum and Exhibition in Istanbul that they will hold a meeting with the Turkish Ministry of Energy and Natural Resources in the coming weeks to discuss potential projects.His remarks came after the World Bank and the Turkish Electricity Transmission Corporation (TEIAS) signed a $750 million loan agreement to modernize and strengthen the country’s electricity transmission network.Asked whether more deals could follow, Lopez hinted at fresh cooperation ahead. “On energy, I’m pretty sure there will be something coming,” he said. “We’ll be meeting with the Ministry of Energy over the coming weeks to decide what the next operations will be, on which we will be focusing.” “We are talking about a number of possibilities at this point,” he added.Lopez said Türkiye’s clean-energy ambitions hinge on s…

World Bank greenlights over $460M financing for renewables in Türkiye The World Bank has approved 400 million euros (nearly $464 million) in additional financing to help expand Türkiye's renewable energy market, focusing on wind power and utilit...

Turkey's renewables push backed by World Bank | AGBI By Pramod Kumar Turkey has secured concessional financing totalling $748 million from the World Bank to modernise and expand its power transmission infrastructure with large-scale solar and wind projects. The funding package includes €625 million ($708 million) from the International Bank for Reconstruction and Development, €33 million from the clean technology fund (CTF) and a $2 million CTF grant, the World Bank said in a statement. The initiative, called the ‘Transforming power transmission system project’, will be executed by the state-run Turkey Electricity Transmission Corporation. The project directly supports Ankara’s renewable energy 2035 strategy, which targets 120 gigawatts (GW) of installed wind and solar capacity by 2035, aligning with the government’s net-zero emissions target by 2053. “This project will help unlock private investment and support Turkey’s vision of a modern and competitive energy sector,” said Humberto Lopez, Country Director for Turkey at the World Bank. The funding is backed by a repayment guarantee from the Turkish treasury and finance ministry, the state-run Andalou Agency reported. Oma…

World Bank and Türkiye Sign Agreement for $1 billion program to support ... ANKARA, May 16, 2024— The Government of Türkiye, the World Bank, and Turkish development banks, signed today an agreement for a $1 billion program on ‘ Accelerating the Market Transition for Distributed Energy’ . This innovative program will help establish and expand Türkiye’s market for distributed solar energy and pilot a program for battery storage, in support of the country’s National Energy Plan. The government aims to significantly scale-up solar energy to 52.9 gigawatts (GW) by 2035 from 9.5 GW in 2022. The target for battery storage is 7.5 GW. With these and other clean energy measures, the government is boosting energy security as an integral part of efforts to decarbonize Türkiye’s economy by 2053. The program is innovative for its use of country systems and for building a platform to diversify private financing. The results-based financing program—the first of its kind in Türkiye—will disburse World Bank funds as pre-agreed results are reached and independently verified. The program will be implemented by Türkiye’s leading private and public development banks: the state-owned Development and Inv…

World Bank Approves $250 million to Support Agriculture Sector Recovery ... WASHINGTON, December 11, 2024 – The World Bank Board today approved $250 million in financing for Türkiye to support the resilient recovery of the agriculture sector in areas devastated by the February 2023 earthquakes. The Agriculture Sector Recovery in Türkiye's Earthquake-affected Provinces project will help farms and farm enterprises in the country’s ‘Fertile Crescent’ region recover from the massive damages inflicted by the earthquakes while also enhancing resilience against natural disasters, including those from climate change. Approximately 50,000 people—including individual farmers, livestock producers, shepherds, agricultural enterprises, and organizations—will benefit through rehabilitated and improved irrigation systems; access to machinery and farm equipment; restored on-farm infrastructure, equipment and pastureland; as well as training in sustainable land management, mechanization practices, and climate-smart practices. The project also includes targeted measures to ensure that women and youth benefit from its programs, fostering inclusive recovery and resilience. “The agriculture sector has…

World Bank greenlights funding for Türkiye's power grid upgrade Facebook Twitter Pinterest Reddit WhatsApp BAKU, Azerbaijan, August 6. The World Bank has approved a large financing package for the implementation of the Türkiye Power Transmission System Transformation (TPTS) project, TurkicWorld reports via WB. This was reported on Wednesday by TurkicWorld , citing the World Bank. The financing package is aimed at integrating increasing amounts of renewable energy into the country's national power grid and supporting Turkey's sustainable development and climate change goals. The total financing for the project exceeded $747.9 million. The package includes: 625 million euro (approximately $707.9 million) in the form of a loan from the International Bank for Reconstruction and Development (IBRD); 32.798 million euro ($38 million) in the form of a loan from the Clean Technology Fund (CTF); and a $2 million grant from the CTF on a non-repayable basis. The project is being implemented as part of the seventh phase of the large-scale ECARES (Renewable Energy Scale-Up in Europe and Central Asia) program and directly supports Türkiye's Renewable Energy 2035 (RE 2035) strategy, which aims to…

Türkiye secures $748M from World Bank to upgrade electricity grid REGION Türkiye has secured $748 million in concessional financing from the World Bank to modernize and expand its electricity transmission infrastructure, bringing the country’s total external concessional funding for 2025 to nearly $7 billion. The Türkiye Electricity Transmission System Transformation Project was approved by the World Bank's Executive Directors and will be implemented by the Türkiye Electricity Transmission Corporation (TEİAŞ). As part of the project, approximately $748 million in financing will be provided to Türkiye Electricity Transmission Corporation (TEIAS), backed by a repayment guarantee from the ministry. The financing includes $708 million in loans from the World Bank, $38 million from the Clean Technology Fund (CTF),and $2 million in grant support under the CTF framework. The funds are backed by a repayment guarantee from the Turkish Treasury and Finance Ministry. - Project aims to boost grid capacity, integrate renewables The project aims at eliminating operational constraints in Türkiye’s electricity transmission system and expand the national transmission ring. It will also enh…

World Bank greenlights funding for Türkiye's power grid upgrade ... 12:23 - 6.08.2025 August 6, Fineko/abc.az. The World Bank has approved a large financing package for the implementation of the Türkiye Power Transmission System Transformation (TPTS) project, Trend reports via WB. This was reported on Wednesday by Trend, citing the World Bank. The financing package is aimed at integrating increasing amounts of renewable energy into the country's national power grid and supporting Turkey's sustainable development and climate change goals. The total financing for the project exceeded $747.9 million. The package includes: 625 million euro (approximately $707.9 million) in the form of a loan from the International Bank for Reconstruction and Development (IBRD); 32.798 million euro ($38 million) in the form of a loan from the Clean Technology Fund (CTF); and a $2 million grant from the CTF on a non-repayable basis. The project is being implemented as part of the seventh phase of the large-scale ECARES (Renewable Energy Scale-Up in Europe and Central Asia) program and directly supports Türkiye's Renewable Energy 2035 (RE 2035) strategy, which aims to achieve 120 GW of installed w…

Turkish Minister of Energy and Natural Resources Bullish on International ... US$250 million from Clean Technology Fund expected to attract additional US$2.25 billion, with green light given in Istanbul for a second phase of CTF funding of US$140 million ISTANBUL: November 7, 2012,The Turkish Minister of Energy and Natural Resources addressed the closing plenary of the Climate Investment Funds (CIF) 2012 Partnership Forum this afternoon in Istanbul, and celebrated the collaboration of the Government and private sector of Turkey, with the EBRD, World Bank and International Finance Corporation to boost investments in clean energy in the country. He said,“Partnering with the multilateral development banks through the CIF has contrıbuted to Turkey’s efforts to scale up investments in energy efficiency, renewable energy, and smart grids by empowering its own national private and banking sector. The fact that Turkey has been a first mover in achieving results on the ground has inspired investors and emboldened us to be even more ambitious not only in the scale of investments we seek to achieve but also in the types of renewable technologies we are considering. In Turkey, renewables are…

World Bank and Clean Technology Fund Support Turkiyes Renewable Energy ... WASHINGTON, August 4, 2025 —The World Bank has approved today a package of financing for the Türkiye - Transforming Power Transmission System Project (TPTS), including a EUR 625 million (US$ 707.9 million equivalent) loan from the International Bank for Reconstruction and Development (IBRD), a EUR 32. WASHINGTON, August 4, 2025 —The World Bank has approved today a package of financing for the Türkiye - Transforming Power Transmission System Project (TPTS), including a EUR 625 million (US$ 707.9 million equivalent) loan from the International Bank for Reconstruction and Development (IBRD), a EUR 32.798 million (US$ 38 million equivalent) loan from the Clean Technology Fund (CTF), and a US$ 2 million CTF grant. This major project aims to enable the integration of increased renewable energy capacity into Türkiye’s national power transmission grid, supporting the country’s clean energy transition and climate resilience goals. This project, which marks Phase 7 of the broader Renewable Energy Scale-Up in Europe and Central Asia (ECARES) Program , will help Türkiye modernize and expand its power transmission i…