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    Reference: 20120398
    Release date: 3 May 2013

    Promoter – Financial Intermediary

    Yapi ve Kredi Bankasi A.S.

    Location

    Description

    The proposed facility is a Framework Loan that will be used to finance renewable energy and energy efficiency projects in Turkey.

    Objectives

    The project would contribute to EU renewable energy and environmental policy goals, in particular as regards the climate targets. It meets the Bank’s priority objectives for energy sector lending (renewable energy sources, energy efficiency) and would support a priority objective in Turkey's Accession Partnership with the EU. Moreover, it is in line with Turkey’s national sector programme described in the Electricity Market and Security of Supply Strategy Paper (2009) which stipulates that the share of renewables in power generation should reach at least 30% by 2023.

    Comments

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 99 million

    Total cost (Approximate amount)

    EUR 200 million

    Environmental aspects

    The individual schemes to be financed are likely to be small and would be expected to have limited environmental impacts. The Bank will assess the promoter’s capacity and procedures to ensure compliance with national law and the Bank’s environmental and social standards as well as its capacity to support the Bank's Public Disclosure Policy.

    Procurement

    The Bank will review systems and procedures applied by the promoter during appraisal, including compliance with relevant national legislation and EIB’s Guide to Procurement.

    Status

    Signed - 24/07/2013

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Turkey Energy