 has agreed to provide a $150 million loan to Enerjisa Enerji to rebuild and modernize the electricity network in #Turkey's south, which was heavily damaged by two earthquakes in February 2023.){kind=link}
The European Bank for Reconstruction and Development (EBRD) has agreed to provide a $150 million loan to Enerjisa Enerji to rebuild and modernize the electricity network in Turkey’s south, which was heavily damaged by two earthquakes in February 2023.
The quakes, which left more than 55,000 people dead and destroyed large parts of the region’s housing and public services, also caused severe damage to the local electricity distribution network. Enerjisa, with one-third of its business in the area, is using the funds to rebuild and modernize the grid as part of broader reconstruction efforts.
The loan will also finance the construction of solar power plants, providing renewable energy to corporate customers and supporting the wider recovery process.
In the immediate aftermath of the 2023 disaster, the EBRD announced a €1.5 billion package to assist Turkey with reconstruction. That support has included credit lines for households and companies, investment in public infrastructure and financing for small and medium-sized enterprises.
Since 2009 the EBRD has invested more than €22 billion in Turkey, with the bulk of its financing directed to the private sector.