Turkey signs MoU for $3.2bn of Green Climate Fund loans

Turkey has signed a memorandum of understanding (MoU) under which it will receive loans worth $3.2bn to help it meet clean energy goals outlined in the Paris climate accord. The country lately became the last G20 country to ratify the accord.

Turkey will obtain the loans under a Green Climate Fund deal funded by the World Bank, France and Germany.

"We have put down the signatures in the past days for the memorandum of understanding to provide our country with $3.157 billion from the Green Climate Fund, for which we have been holding negotiations for some time," Turkish President Recep Tayyip Erdogan said in a speech to deputies from his party in parliament last week.

Erdogan was, meanwhile, reported by Hurriyet as saying that Turkey planned to create a national garden at Istanbul Ataturk Airport, worthy of the 100th anniversary of the Turkish Republic, which falls in 2023. The tender to deliver the garden is to be announced by the end of the year.