Turkey has received a major boost for its post-earthquake recovery, as private power distributor Enerjisa Enerji secured funding to refurbish and modernize power distribution networks in regions devastated by the February 2023 earthquakes.
The funding is part of a $340 million debt financing package arranged by the International Finance Corporation (IFC), the Asian Infrastructure Investment Bank (AIIB), the Dutch Entrepreneurial Development Bank (FMO), and the Green for Growth Fund.
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According to IFC, the package includes a $150 million, six-year local-currency loan to help Enerjisa repair critical infrastructure and modernize power networks serving more than 22 million people in the affected regions.
A portion of the investment will also go toward expanding electric vehicle (EV) charging infrastructure, supporting Turkey’s ongoing transition to cleaner and more sustainable energy.
The funding marks another step in Turkey’s energy resilience efforts. Earlier this month, the state-owned Turkish Electricity Transmission Corporation (TEİAŞ) received $750 million from the World Bank to strengthen the country’s electricity transmission network.
In August, Turkey also secured $748 million in concessional financing from the World Bank to modernize and expand transmission infrastructure, integrating large-scale solar and wind projects into the national grid.
The 2023 earthquakes, including a 7.8-magnitude quake, killed more than 50,000 people in southeastern Turkey and caused severe damage to power, transport, and housing infrastructure.
