Turk Telekom takes USD100m EBRD loan

5 Jun 2020

The European Bank for Reconstruction and Development (EBRD) has provided a USD100 million loan to Turk Telekom, supporting plans for investment including modernisation of fixed broadband infrastructure using energy-efficient technology, reports the Daily Sabah. Turk Telekom’s chief financial officer Kaan Aktan stated that the telco plans to fully integrate universal principles of sustainability into its business model, strategies and corporate decision-making, while the EBRD’s managing director for Turkey, Arvid Tuerkner, added: ‘There is a consensus among responsible investors that rebuilding economies after the coronavirus pandemic will not be enough. We will have to build back better – to create a more sustainable corporate sector.’

The EBRD has previously financed Turk Telekom’s investments in rural fixed broadband infrastructure, 4G mobile network rollout and the construction of international cable links connecting western Europe to southeast Asia through Turkey and the Middle East. The bank has invested around USD13.4 billion in various sectors of the Turkish economy since 2009.

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