Newsletters
The World Bank has approved $748 million in financing for Türkiye's energy transmission system transformation, bringing total international financing secured this year to approximately $7 billion, according to the Treasury and Finance Ministry.
The World Bank's Board of Executive Directors approved the "Türkiye Energy Transmission System Transformation Project," which will provide funding to Turkish Electricity Transmission Corporation (TEIAS) under the ministry's repayment guarantee.
The $748 million package consists of:
The project, to be implemented by TEIAS, aims to eliminate constraints in Türkiye's energy transmission system operations.
It will complete the electricity transmission grid ring and strengthen transmission infrastructure to connect renewable energy production facilities alongside other generation sources.
1 min read
Treasury and Finance Minister Mehmet Simsek emphasized the successful outcomes achieved in the energy sector through long-standing cooperation with the World Bank.
"This successful partnership will continue in the same way in the coming period," Simsek said.
"We are continuing our work within the framework of our economic program, whose ultimate goal is permanent welfare increase.
In this context, we are increasing electricity production from renewable energy sources.
Our support for public investments will continue with determination within the framework of our goal of reducing dependence on imported sources of energy," he noted.
With this World Bank funding, favorable-term financing from international organizations will reach approximately $7 billion in 2025, according to ministry sources.
8 min read
