29 September 2011: The European Bank for Reconstruction and Development (EBRD) is supporting Turkey’s investments in renewable energy and energy efficiency projects to increase energy savings and reduce carbon emissions.

Through the extension of the Mid-size Sustainable Energy Financing Facility (MidSEFF), launched in December 2010, EBRD is investing up to €50 million in mid-size private sector energy efficiency projects.

EBRD will also offer a total of €225 million in loans to Turkish banks for on-lending to private sector borrowers so that they can undertake mid-size renewable energy, waste-to-energy and industrial energy efficiency investments. One of the first banks to join the MidSEFF is Yapi Kredi Bank (YKB). [EBRD Press Release]