Turkey, Istanbul: Turkish electricity supplier Akcez Enerji Yatırımları Sanayi ve Ticaret (AKCEZ) has received a long-term refinancing package worth $325 million to fund the projects aiming to increase efficiency of power distribution in the country.

AKCEZ will use the funding to expand its distribution network, replace old distribution lines, and reduce loss levels, reports EBR.

The refinancing packaging, which also includes additional capital expenditure (capex) financing loans, has been granted jointly by European Bank for Reconstruction and Development (EBRD), IFC, a member of the World Bank Group, and UniCredit.

Source: EBR