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Istanbul Fashion Week >>
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Bozcaada >>
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1st Istanbul International Opera Festival >>
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Open Air Museums in Turkey >>
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Current News
Eximbank to lend in renewable energy
July 26, 2010
Anatolia News Agency
United States company Eximbank plans to increase its export loans to Turkey from $1.6 billion to $3 billion, and the bank has particular interest in transportation and renewable energy projects, Chairman Fred P. Hochberg said.
Speaking to the press on Friday about his meeting with Energy Minister Taner Yıldız, Hochberg said the bank’s cooperation with Turkey in renewable energy could significantly reduce Turkey’s dependency on foreign energy sources and help with environmental issues. He added that, regarding renewable energy projects, Eximbank was planning to start with an initial $1 billion loan.
Hochberg said he told the minister that firms like Westinghouse and General Electric could be of use to many renewable energy projects in Turkey by showing examples from these companies’ activities in India. He added that he and Yıldız also talked about Turkey’s nuclear energy projects
“As USA Eximbank we chose nine countries with respect to their economies, infrastructure investments and growth potential. We consider no limitations in terms of projects or fund-providing. We will evaluate each country and each project individually.”
Hochberg added they were planning to multiply their export loan amount soon and increase it to $3 billion, and they also attached much importance to financially supporting small- and middle-scale businesses.
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