In late December, the European Bank of Reconstruction and Development (EBRD) launched the Mid-size Sustainable Energy Financing Facility (MidSEFF), designed to support renewable energy and industrial energy efficiency investments.

Under this initiative, the EBRD has approved the disbursement of up to €300 million ($410 million) to four Turkish banks by either providing senior unsecured loans or purchasing notes issued through the diversified payment rights (DPR) securitization programs originated by these banks. In addition, the multilateral has approval to finance directly, as co-lenders, up to €100 million with the same banks in certain renewable energy or energy efficiency investments.

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