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The World Bank Board of Executive Directors approved $2 billion loan for the Europe and Central Asia Renewable Energy Scale-up (ECARES) programme.

In the bank's statement, it was stated that within the scope of the program, firstly, a resource of 657 million USD would be provided for the "Accelerating Market Transition for Distributed Energy Project in Turkiye". With the 10-year, multi-phase initiative, it is aimed to activate 15 GW of renewable energy installed capacity in developing countries including Armenia, Azerbaijan, Kosovo, Kyrgyzstan, Tajikistan, Ukraine and Uzbekistan.