Türkiye and World Bank Initiate $6 Billion Energy Financing Talks

Türkiye has reached an agreement with the World Bank to begin work on a financing package of up to $6 billion aimed at expanding the country's electricity transmission infrastructure, Energy and Natural Resources Minister Alparslan Bayraktar announced.

In a social media post, Bayraktar said he reached an agreement with World Bank Europe and Central Asia Vice President Antonella Bassani to begin efforts on the package, The Caspian Post reports citing Turkish media.

The financing will support high-voltage electricity transmission investments planned to achieve the 2035 target of 120,000 megawatts in wind and solar installed capacity, he explained.

Bayraktar added that their meeting also evaluated cooperation opportunities in renewable energy, nuclear and natural gas.