World Bank to provide $416 million loan to Turkey to reduce air pollutants
By Reuters
April 20, 2024 at 12:00:03 PM
Finance ministers prepare for the International Monetary and Financial Committee (IMFC) plenary session at the IMF and World Bank's 2024 annual Spring Meetings in Washington, U.S., April 19, 2024. REUTERS/Ken Cedeno
ANKARA (Reuters) - The World Bank said on Friday that it signed a $416 million loan agreement with the Development and Investment Bank of Turkey (TKYB) to help Turkish industries reduce air pollutants and greenhouse gas emissions.
The loan would unlock long-term financing for Turkish manufacturers via a project aimed at helping the manufacturing sector adopt clean technologies and processes to decrease harmful emissions, the bank said in a statement.
"Reducing emissions from the industrial sector is crucial to enhancing the competitiveness of Turkish industries in the global market," Humberto Lopez, World Bank Country Director for Turkey, was quoted as saying in the statement.
(Reporting by Nevzat Devranoglu; Writing by Huseyin Hayatsever; Editing by Tuvan Gumrukcu and Frances Kerry)
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