EBRD to Invest in Turkish Water Projects

The European Bank for Reconstruction and Development (EBRD) will extend a €16m ($20.9m) loan to the privately owned group TASK to finance water projects in Turkey.

The loan will boost private sector participation in Turkey’s water sector, which is estimated to require €60-70bn ($78-91bn) over the next 15 years to bring it in line with EU norms, the bank said.

Repairing existing and constructing new wastewater facilities will take up most of the required investment.

The loan was extended to TASK Gulluk and TASK Dilovasi, two regional branches of TASK Group to support its planned investment in Turkey’s wastewater infrastructure.