EU’s $323m grant to support Turkey’s green transition

The European Union (EU) will provide a $322.8 million grant to Turkey to bolster the country’s green and digital transformation drive.

The European bloc has provided over €780 million ($810 million) to support Turkey’s green transformation, Jurgis Vilcinskas, deputy head of mission of the EU delegation to Turkey, told the state-run Anadolu Agency.

The grant will focus on the environment, energy, transportation, education and employment sectors, he added.

The financial aid will allow Turkish companies to transform into environmentally friendly and sustainable businesses and boost their competitiveness, thus supporting the country’s digital and green transformation efforts.

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Last month, energy minister Alparslan Bayraktar said Turkey needs $80 billion to meet growing energy demand, which has tripled in the last two decades.

The country also intends to invest more than $20 billion in energy efficiency projects by 2030 to combat climate change and boost sustainable development.