The plan outlines key areas for cooperation for investments and policy initiatives in renewable energy and energy efficiency projects.

EBRD said it will cooperate Turkey in the preparation and adaptation of legislation, and development of financing instruments to support investments in energy efficiency, renewables and carbon finance projects.

Turkey’s energy efficiency target is to reduce energy intensity by 20% by 2023 compared to 2008.

EBRD country director for Turkey Michael Davey said that the sustainable energy action plan will help facilitate real improvements in energy efficiency and the increased use of renewable energy through targeted initiatives developed in close cooperation with the Turkish government.