05.08.2025 22:47
The World Bank has approved a total financing of 748 million dollars for Turkey's Transmission System Transformation Project. The project will support the integration of renewable energy and the transition to clean energy.
The World Bank approved a financing package consisting of a 625 million euro International Bank for Reconstruction and Development loan, a 32.798 million euro Clean Technology Fund (CTF) loan, and a 2 million dollar CTF grant for the Turkey Transmission System Transformation Project (ISDP). Under the project, approximately 748 million dollars will be provided to Turkey Electricity Transmission Co. (TEİAŞ) from the World Bank under the Ministry's repayment guarantee.
CLEAN ENERGY IS BEING SUPPORTED
In a statement from the bank, it was noted that the project aims to integrate the increasing renewable energy capacity into Turkey's national electricity transmission network. Thus, it was expressed that the goals of clean energy transformation and climate resilience will be supported.
SUPPORT FOR SOLAR AND WIND ENERGY PRODUCTION
ISDP also constitutes the 7th phase of the Renewable Energy Scaling Program in Europe and Central Asia. Within the scope of the project, it is planned to modernize and expand the transmission infrastructure that will enable large-scale solar and wind energy production in Turkey.
MEHMET ŞİMŞEK'S "CONFIDENCE LOAN" STATEMENT
In a statement regarding the matter, Minister of Treasury and Finance Mehmet Şimşek said, "Thanks to the confidence in our economic program, long-term and favorable external financing obtained from international institutions is increasing. The amount of resources we provided reached 7 billion dollars in 2025 in line with our development goals." highlighting the confidence in the economic program.