The European Bank for Reconstruction and Development (EBRD) has partnered with and TASK Group, a company engaged in water and wastewater management, to invest in the water sector in Turkey.

The Bank is providing two long-term senior loans worth EUR16m to two TASK Group companies, TASK Gulluk and TASK Dilovasi to finance TASK’s planned investments into the country’s water and wastewater infrastructure.

The EBRD funding, which will go toward refinancing and extension of TASK’s existing projects in the country, will be used to rehabilitate Turkish water supply network and to construct new wastewater treatment facilities to serve the Turkish population.

Turkey is estimated to require about EUR60-70bn over the next 15 years in improving its water and wastewater infrastructure, including repairing the existing and constructing new wastewater facilities to comply with the EU norms.

EBRD director of municipal and environmental infrastructure Jean Marquet said that its financing is helping a domestic private water operator develop its business and expand private sector participation in the water and wastewater sector in Turkey.