EBRD Annual Report 2016
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Donors and the EBRD 2016
Gender equality and green growth in Turkey's energy sector
The EBRD is spurring efforts to make the Turkish power sector more environmentally friendly and inclusive with a US$ 135 million (€128 million equivalent) loan to subsidiaries of electricity company IC Elektrik. The financing will help power distribution firm TREDAŞ and retail sales firm TREPAŞ to significantly improve the efficiency and reliability of the power network in north-western Turkey. The reduction in energy losses is expected to save 90,000 MWh and cut CO2 emissions by 45,000 tonnes.
Turkey exhibits one of the lowest rates of female labour-force participation (32 per cent) in the EBRD region and the country's power and energy sector in particular is dominated by men. As a condition of the financing, the companies will introduce corporate standards and practices that strengthen women's access to employment and skills. In addition, they will undertake gender-sensitive employee surveys, review payroll data to ensure equal pay for work of equal value, and receive TC-funded advice to implement a comprehensive gender action plan.
Lastly, TREDAŞ and TREPAŞ will enhance their compliance procedures, including by strengthening anti-corruption policies and adopting enhanced codes of conduct. Read more about this project.
ebrd.com
The EBRD is investing in changing people's lives from central Europe to Central Asia, the Western Balkans and the southern and eastern Mediterranean region. With an emphasis on working with the private sector, we invest in projects, engage in policy dialogue and provide technical advice which fosters innovation and builds modern economies that are competitive, well-governed, green, inclusive, resilient and integrated.
We provide financing for well-structured, financially robust projects of all sizes (including many small businesses), both directly and through financial intermediaries such as local banks and investment funds. The Bank works mainly with private sector clients, but also finances municipal entities and publicly owned companies. Our principal financing instruments are loans, equity investments and guarantees.
We maintain close policy dialogue with governments, authorities, international financial institutions, and representatives of civil society, and provide targeted technical assistance using funds donated by member governments and institutions.
About this microsite
This microsite for the EBRD Annual Report 2016 expands on the printed report, which provides a comprehensive overview of the Bank's activities and impact during the past year in the countries where it invests.
The report describes the impact of the EBRD's investments, projects and policy work in 2016, highlights its innovation in key sectors and initiatives, and shows how the Bank continues its drive to promote sustainable growth.