$549 million to finance renewable energy in Turkey

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The World Bank’s Board of Executive Directors plans to provide $549 million in financing to increase the use of renewable energy in Turkey.

The World Bank stated in a statement on Wednesday that the “Renewable Energy Project for the Public Sector and Municipalities” will accelerate the use of renewable energy in government facilities and municipal facilities in Turkey.

It noted that the funding allocated within the scope of the $549 million project will contribute to energy security, accelerate the use of renewable energy in Turkey, and fulfill the country’s commitments on climate change.

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The World Bank’s country director in Turkey, Humberto Lopez, who devoted space to the statement, said that the project will benefit the Turkish economy and the environment.

He explained that renewable energy in public utilities would help Turkey meet its climate commitments and mitigate the impact of high energy prices on municipal bills.

He stated that “the construction sector is one of the sectors that consumes the largest amount of energy and causes the most carbon emissions, which directly affects the health of citizens.”