Turkey power grid loan

ANKARA (Reuters) – The World Bank has approved a -205 million ($269.4 million) loan to help rehabilitate Turkey’s power grid infrastructure, it said yesterday. The loan to government-owned electricity distribution company TEDAS, guaranteed by the state, has a 15-year maturity, including a five-year grace period and a variable spread, the bank said in a statement. The project will help to improve the distribution system in critical areas, reducing supply interruptions while expanding capacity and improving safety. «A reliable and efficient electricity distribution system is important for ensuring energy security and sustained economic growth in Turkey – especially as electricity demand continues to rise,» said Ulrich Zachau, World Bank country director for Turkey. He said the bank hoped the project would make the distribution business more attractive for private investment.

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