US Ex-Im Bank signs agreement on financing in Turkey

Dora 2 Geothermal Power Plant, Turkey
Alexander Richter 26 Jul 2010

Turkey signs agreement with Export-Import Bank of the U.S. to provide renewable energy financing to projects in Turkey.

Turkey might see financing for renewable energy projects provided by the U.S. Export-Import Bank, reported in news from Turkey.

According to the piece, “The Turkish Ministry of Energy and Natural Resources has signed a memorandum of understanding (MoU) with the Export-Import Bank of the US (Ex-Im Bank) to provide financing for renewable energy and energy efficiency projects in Turkey.

Taner Yildiz, Turkey’s Minister of Energy and Natural Resources, said the agreement includes a loan deal totaling USD 1 billion for renewable energy and energy efficiency projects. “This is the beginning stage of cooperation that will cover various projects in the fields of wind, solar and geothermal energy”, said Yildiz, adding that investors will be able to use the loan through banks in Turkey. Ex-Im Bank’s Chairman and President Fred P. Hochberg said Turkey is the fastest growing country in their nine priority countries chosen for Ex-Im Bank financing.”