The European Bank for Reconstruction and Development (EBRD) announced that they would allocate a total of USD 160 million loan facility to Turkey’s Anadolu Etap and Türk Telekom.
According to the statement released by the EBRD, Türk Telekom was provided with a USD 100 million capital expenditure loan. The loan will be used to boost the sustainability of its service providers. Subscribed by approximately 48 million people for internet and telecommunication services, Türk Telekom aims to renew the broadband infrastructure and to put low energy equipment into service as part of this investment program.
The EBRD also decided to give support to the Turkish agriculture sector by providing a USD 60 million loan to Anadolu Etap, one of the most prominent fruit producers in Turkey. Anadolu Etap will make use of the loan to operate its factories uninterruptedly in the face of the COVID-19 outbreak.