Wednesday, August 03, 2005

Turkey: $50.6 M loan agreement between TEIAS & IBRD ratified

16:55 - 02 August 2005 - A $50.6 million loan agreement between Turkey's Power Distribution Corp. (TEIAS) and the International Bank for Reconstruction and Development (IBRD) has been ratified, Turkish Daily News reports.

According to sources close to the matter, TEIAS will use the loan to establish an administrative system and control mechanism to ameliorate the general outlook for energy security.

Source: Turkish Daily News


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