Record of Approval on an Absence of Objection Basis - June 15, 2026 - Accelerating the Market Transition for Distributed Energy Program（Türkiye）

Jul 19, 2026

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Executive Directors approved an IBRD envelope increase of US$2.96 billion for the Europe and Central Asia Renewable Energy Scale-up (ECARES) Program under the Multiphase Programmatic Approach (MPA). The decision includes additional financing and restructuring for the Accelerating the Market Transition for Distributed Energy Program in Türkiye (Phase 1 of the MPA). Two IBRD loans to Türkiye’s Development and Investment Bank and Industrial Development Bank total EUR 400 million, and are guaranteed by the Republic of Türkiye under the President’s Memorandum.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages1

Reading Time3 min

Approval decision

IBRD envelope increase and scope

Additional financing and restructuring

Loan structure and guarantee terms

Board member recorded positions

FAQs

What was approved on an absence-of-objection basis on June 15, 2026?

The Executive Directors approved an IBRD envelope increase of US$2.96 billion for the ECARES program, including additional financing and restructuring for the Türkiye distributed energy program (Phase 1 of the MPA).

What does the approval cover under the Multiphase Programmatic Approach (MPA)?

It covers additional financing and restructuring for “Accelerating the Market Transition for Distributed Energy Program” in Türkiye, as part of Phase 1 of the MPA for ECARES.

How is the additional financing structured and guaranteed?

It consists of two IBRD loans of EUR 200 million each to Türkiye’s development and investment bank and industrial development bank, totaling EUR 400 million, guaranteed by the Republic of Türkiye under the President’s Memorandum (R2026-0129).

Jul 19, 2026

Upload by Eliana