The Asian Infrastructure Investment Bank (AIIB) has signed a $75 million loan to enable the expansion, rehabilitation and improved efficiency of the electricity distribution network in Turkey.
This marks AIIB’s first non-sovereign backed financing to an electricity network concession, paving the way for future investments in the regulated industries sector.
Electricity distribution company Osmangazi Elektrik Dağıtım OEDAŞ’s will use the proceeds of the loan to procure, construct and operate medium- and low-voltage overhead lines, underground lines, transmission connection lines and transformers.
To date, AIIB has committed more than $3.5 billion via 15 projects in various sectors across the Turkish market.
