By Dilara Sarı

The European Bank for Reconstruction and Development (EBRD) is providing a €12.5 million(US$13.24million) loan to Turkish ship maintenance company Tersan Tersanecilik Tasimacilik Sanayi ve Ticaret A.S. to finance capital expenditure, including for the extension of a repair berth and the installation of solar panels.

The loan will help strengthen Tersan’s competitive position by enabling it to increase the number of ships being equipped with ballast water management systems and step up a number of eco-friendly and efficiency repairs and cost-efficiency improvements.

The proceeds of the loan will also enable the company to generate electricity for internal consumption through the use of solar panels, resulting in a reduction of 2,789 tCO2 of scope 2 emissions annually. This will decrease the company’s energy costs and, consequently, its operating expenses.

The EBRD is a leading institutional investor in Türkiye. Since 2009, the Bank has invested almost €17 billion in various sectors of the country’s economy, mostly in the private sector.