EBRD, IFC, FMO finance upgrade of electricity grid in western Anatolia

The European Bank for Reconstruction and Development, International Finance Corporation, and Dutch Development Bank FMO are joining forces to finance improvements in the electricity distribution network in Turkey's Osmangazi region in western Anatolia.

The EBRD is providing $110 million, IFC $80 million and FMO $65 million to Osmangazi Elektrik Dagitim to finance the upgrade, modernisation and expansion of the distribution network, which serves around 2.7 million people in 194 towns and 1,596 villages.