December 3 (SeeNews) - The European Investment Bank (EIB) is providing a 150 million euro ($203 million) loan to Turkey for forest rehabilitation, afforestation and erosion control activities to be carried out in the period between 2014 and 2015, EIB said on Tuesday.
The loan follows a 100 million euro EIB loan, signed in December 2012, for a similar project being implemented by Turkey's ministry of forestry and water works, the bank said in a statement.
The new financing is expected to back erosion control activities, rehabilitation of degraded forest land, new afforestation activities. It will also cover investments in equipment and facilities to carry out these works and to facilitate improvements to the quality of forest management, EIB said.
($ = 0.737 euro)