$549 million financing from the World Bank to Turkey

The World Bank announced that it has approved $549 million in funding for Turkey to increase the use of renewable energy in central government and municipalities. The new project, approved by the World Bank Board of Executive Directors, will help increase the use of renewable energy in public buildings in Turkey. The $549 million Public and Municipal Renewable Energy Project will support the expansion of renewable energy use in Turkey’s public sector, focusing on central government and municipal facilities. “The use of renewable energy in public facilities can help Turkey meet its climate commitments while mitigating the impact of rising energy prices on municipalities’ energy bills,” said Humberto Lopez, World Bank Country Director for Turkey. “The project will provide many benefits to the economy and the environment, considering that the building sector is one of the country’s largest energy consumers and carbon emitters, which has a direct impact on citizens’ health.”