{"id":88570,"date":"2024-12-11T00:00:00","date_gmt":"2024-12-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/"},"modified":"2024-12-11T00:00:00","modified_gmt":"2024-12-11T00:00:00","slug":"egypt-and-turkey-secured-loans-from-opec-fund-in-4q","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/","title":{"rendered":"Egypt and Turkey secured loans from Opec Fund in 4Q"},"content":{"rendered":"

Opec Fund had a busy 4Q:<\/strong> The Opec Fund for International Development (Opec Fund) approved almost USD 1 bn in development financing in 4Q 2024 including USD mns worth of loans for regional renewable projects and initiatives, according to a statement<\/a>. Egypt and Turkey were among the countries to receive financing from the fund totaling nearly USD 100 mn.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

First, Egypt: <\/strong>Opec has extended a USD 40 mn loan for the construction of two wind farms in the Gulf of Suez with 1.1 GW capacity, according to the statement. The USD 1 bn mega wind farm is being developed by Saudi renewables giant Acwa Power and Hassan Allam Utilities and is set to be the largest wind project in both Africa and the Middle East. <\/p>\n

Turkey also got some help: <\/strong>Turkey received a EUR 50 mn (c. USD 52.6 mn) loan for the Turkish Industrial and Development Bank (TSKB)-backed Climate Finance Facility Project to bolster investments in renewables, energy efficiency, and climate adaptation, the statement notes. The TSKB aims to accelerate financing of climate investments<\/a> in Turkey and has already received loans from the German Development Bank and the International Climate Initiative. Turkey has set an ambitious target<\/a> to reach net zero by 2053 which will require USD 10 bn in financing annually through 2030. <\/p>\n

REMEMBER- OFID is upping its climate financing: <\/strong>Opec Fund raised its climate project financing target<\/a> for low and middle-income countries to at least 50% by 2030 \u2014 up from the previous goal of 40%. Saudi Arabia plays a significant role in OFID \u2014 being the largest contributor with over 30% \u2014 supporting climate change initiatives including clean cooking initiatives in low-income countries in Africa and parts of MENA. Last year, OFID allocated 34% of its funding \u2014 USD 1.7 bn \u2014 to 55 climate projects, of which 42% were in Sub-Saharan Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"

The financing will go towards a wind farm in Egypt and renewables development in Turkey<\/p>\n","protected":false},"author":1,"featured_media":88571,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84],"tags":[83,40,11,451,88,191],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-egypt","tag-enterpriseclimate","tag-opec-fund","tag-renewables","tag-turkey","wpautop","entry"],"acf":{"mongo_id":"1e4817c9-c832-4e56-822f-ca52433725cd","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/2852.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt and Turkey secured loans worth some USD 100 mn from Opec Fund in 4Q","related_issue":[88558],"teaser":"The financing will go towards a wind farm in Egypt and renewables development in Turkey","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.27ef5eff-fb47-45d7-a24f-fddc5175d69f.mp3"},"yoast_head":"\nEgypt and Turkey secured loans from Opec Fund in 4Q - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt and Turkey secured loans from Opec Fund in 4Q\" \/>\n<meta property=\"og:description\" content=\"The financing will go towards a wind farm in Egypt and renewables development in Turkey\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-11T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2852.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt and Turkey secured loans from Opec Fund in 4Q\",\"datePublished\":\"2024-12-11T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/\"},\"wordCount\":315,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2852.jpg?fit=%2C&ssl=1\",\"keywords\":[\"DEBT WATCH\",\"Egypt\",\"EnterpriseClimate\",\"OPEC Fund\",\"renewables\",\"Turkey\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/\",\"url\":\"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/\",\"name\":\"Egypt and Turkey secured loans from Opec Fund in 4Q - Climate\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2852.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-12-11T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2852.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2852.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/climate\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Egypt and Turkey secured loans from Opec Fund in 4Q\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#website\",\"url\":\"https:\/\/enterpriseam.com\/climate\/\",\"name\":\"Climate\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/climate\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\",\"name\":\"Climate\",\"url\":\"https:\/\/enterpriseam.com\/climate\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/25470.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/25470.svg\",\"caption\":\"Climate\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/climate\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Egypt and Turkey secured loans from Opec Fund in 4Q - Climate","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/","og_locale":"en_US","og_type":"article","og_title":"Egypt and Turkey secured loans from Opec Fund in 4Q","og_description":"The financing will go towards a wind farm in Egypt and renewables development in Turkey","og_url":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/","og_site_name":"Climate","article_published_time":"2024-12-11T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2852.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Egypt and Turkey secured loans from Opec Fund in 4Q","datePublished":"2024-12-11T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/"},"wordCount":315,"publisher":{"@id":"https:\/\/enterpriseam.com\/climate\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2852.jpg?fit=%2C&ssl=1","keywords":["DEBT WATCH","Egypt","EnterpriseClimate","OPEC Fund","renewables","Turkey"],"articleSection":["DEBT WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/","url":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/","name":"Egypt and Turkey secured loans from Opec Fund in 4Q - Climate","isPartOf":{"@id":"https:\/\/enterpriseam.com\/climate\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2852.jpg?fit=%2C&ssl=1","datePublished":"2024-12-11T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2852.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2852.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/egypt-and-turkey-secured-loans-from-opec-fund-in-4q\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/climate\/"},{"@type":"ListItem","position":2,"name":"Egypt and Turkey secured loans from Opec Fund in 4Q"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/climate\/#website","url":"https:\/\/enterpriseam.com\/climate\/","name":"Climate","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/climate\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/climate\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/climate\/#organization","name":"Climate","url":"https:\/\/enterpriseam.com\/climate\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/25470.svg","contentUrl":"https:\/\/ent.news\/internal\/25470.svg","caption":"Climate"},"image":{"@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/climate\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2852.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2852.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/climate\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2852.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"jetpack_shortlink":"https:\/\/wp.me\/pgVl2y-n2y","_links":{"self":[{"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/posts\/88570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/comments?post=88570"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/posts\/88570\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/issue\/88558"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/media\/88571"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/media?parent=88570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/categories?post=88570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/tags?post=88570"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/brand?post=88570"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=88570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}