The European Bank for Reconstruction and Development, or EBRD, said Wednesday it will give a EUR60 million loan to Izgaz, the gas distribution company of Turkey's northwestern industrial city of Izmit, the Ihlas News Agency, or IHA, reported.
In a statement, the International Finance Corporation also said it will provide Izgaz with $50 million financial support to encourage privatization in Turkey's energy sector.
In August 2008, Franco-Belgian utility GDF Suez (GSZ.FR) won the tender to buy Izgaz with a bid of $232 million.