09 March 2021
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JSC Akkuyu Nuclear, a subsidiary of Russia s Rosatom, said today it had received two loans of up to USD200 million and USD100 million, respectively, for a period of seven years from Sovcombank to finance the construction of the Akkuyu nuclear power plant in Turkey. The loans are being provided on special terms, Rosatom said, including a reduction in the interest rate when the borrower fulfills its sustainable development covenants . Sovcombank is one of Russia’s 10 biggest banks, with assets totalling RUB1.6 trillion (USD20.27 billion).
Akkuyu unit 1 (Image: Rosatom)
Rosatom s Deputy Director General for Economy and Finance Ilia Rebrov said: By committing to sustainable development obligations as part of the loan agreements, Rosatom, by means of the Akkuyu project, exemplifies the new level of responsibility assumed by nuclear companies in implementing the world s sustainable development agenda.
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Russias Sovcombank said on 18 December that it will provide Rosatom subsidiary Akkuyu Nuclear with a loan of up to $300 million for a period of seven years to finance the project to build the Akkuyu NPP in Turkey.
The construction of modern nuclear power plants will help reduce greenhouse gas emissions, said Sovcombank Board Chairman Dmitry Gusev.
Sovcombank was the first Russian bank to join a group of 130 international banks that signed the UN Principles for Responsible Banking (UNEP FI) at the UN General Assembly in New York in 2019. Sovcombank has pledged to build a strategy in accordance with international climate goals. The provision of a loan for the construction of the Akkuyu NPP in Turkey is fully consistent with these goals, he added.