The World Bank has approved a US$600 million loan to continue financing Turkey's environmental policy implementation and clean technology promotion, including amendments to renewable energy laws to implement feed-in tariffs.
27 March 2012: The World Bank has approved a US$600 million loan to promote clean technology, environmental sustainability, and environmental management programs in Turkey. The loan will be used to carry out goals set forth in Turkey’s Ninth Development Plan.
The Environmental Sustainability and Energy Sector Development Policy Loan is the third operation in a series of World Bank loans Turkey has received. Through it, the government will support investments in clean technology, create environmental sustainability policy, and establish a more comprehensive environmental management system. Specifically, Turkey will implement: a cost-based energy pricing system; electricity distribution privatization; amendments to renewable energy laws to establish technology-based feed-in tariffs; and regulations on pollution, including the transposition of EU directives into Turkish environmental regulation. [World Bank Press Release]