According to TaiyangNews, the World Bank has agreed to provide Turkey with a $1 billion loan to help the country expand the use of renewable energy, especially distributed solar energy and battery storage.

It is reported that the $1 billion fund includes a loan of approximately 600 million euros (US$657 million) from the International Bank for Reconstruction and Development, US$30 million from the Clean Technology Fund (CTF), and a US$3 million grant from the World Bank's Energy Sector Management Assistance Program. It is also expected to mobilize $259 million in private capital.