As part of the financing, EBRD is providing US$110 million, IFC is providing a loan worth US$80 million and FMO is contributing US$65 million. Image: EBRD The EBRD, IFC and Dutch Development Bank (FMO) have announced a partnership to finance improvements to Turkey’s electricity distribution network in the country’s Osmangazi region in western Anatolia. The three institutions are providing US$330 million to Osmangazi Elektrik Dagitim A.S. (OEDAS), the electricity distribution company of the Osmangazi region, to modernise the distribution network in the region and enable the connection of increased PV capacity. As part of the financing, EBRD is providing US$110 million, IFC is providing a loan worth US$80 million and FMO is contributing US$65 million. With this funding, the electrical grid will be updated for a network that serves around 2.7 million people in 194 towns and close to 2,000 villages. This financing is part of a capital expenditure programme set down by Turkey's Energy Market Regulatory Authority for the five-year regulatory period between 2016 and 2020. Tags: turkey, ebrd, ifc, fmo
The European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), and the Dutch Development Bank (FMO) will form a partnership to finance an electricity distribution network in Western Anatolia's Osmangazi region. In total, the institutions have pledged $330m, including $110m from the EBRD, $65m from FMO and a $80m loan from the IFO. The network should provide electricity to about 2.7 million people.