Wednesday, October 27, 2021

For climate protection Turkey receives billions in credit from Germany and France

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So far, the Turkish government has refused to put the 2016 Paris Climate Agreement into effect. Now Erdogan has apparently reached an agreement with the other G20 countries.

According to insiders, a week after the ratification of the Paris Agreement, Turkey received billions in loans for climate protection. 3.1 billion euros are to be provided by the World Bank, France and Germany, said people familiar with the plans.

Most of the money is said to be provided by the World Bank with two billion euros. France packs up to a billion euros on top, while Germany is expected to come in a little more than 200 million euros. “An agreement on the amount and the modalities has already been reached, so Turkey has ratified the Paris Agreement,” said one of the insiders.

The signing of a letter of intent on the loan agreement is planned for this month and before the planned UN climate summit in Scotland, it said. The money should flow even if the status of Turkey is not changed. So far it has been planned that the country on the Bosporus will be listed as a developed country in the Paris climate protection agreement.

This classification is associated with stricter requirements than those for developing countries. Erdogan had repeatedly called for Turkey to be considered a developing country and pointed out the comparatively small share of global carbon dioxide emissions in the past few decades.

Turkey was the last of the 20 large industrialized countries (G20) to ratify the Paris Agreement on Climate Change. The country signed the agreement in 2016. But it had refused to ratify it because it was classified as a developed country. The climate agreement provides for global warming to be limited to a maximum of two degrees Celsius in relation to pre-industrial values. One of the drivers of global warming is the gas carbon dioxide, which occurs when fossil fuels such as natural gas and oil are burned.

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