Turkey Gets $200M İn Finance For Efficiency İnvestments

Turkey reached an agreement with the World Bank for $200 million in funding for public sector energy efficiency investments, Turkey's Energy and Natural Resources Minister Fatih Donmez said Monday.

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Local municipalities and public institutions via ILBANK will use the long-term finance provided with a low interest rate, Donmez stated.
Speaking at 5th Extraordinary General Assembly of Energy Efficiency Association, Donmez declared that energy efficiency is key to lowering consumption, which in turn will enable a cleaner environment.
Energy efficiency is a common target for the whole country to ensure less energy imports and a better economy, he said.
"We saved $122 million thanks to energy efficiency investments in 2017 and prevented $500 million worth of gas imports," Donmez said.
Turkey plans investments of around $11 billion for energy efficiency projects in all related sectors by 2023 in line with the National Energy Efficiency Action Plan announced earlier this year.
The country foresees savings of $30 billion by 2033 thanks to these investments.