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Winds of change - the case for renewable energy in Turkey

By Levent Lezgin Kılınç, Founding Partner, Kılınç Law & Consulting

As one of the world’s fastest growing energy markets, Turkey has been increasing its drive towards greater self-sufficiency for several years. To satisfy its annual 300bn kilowatts of electricity consumption, the current energy mix has been quite well-balanced:a quarter of electricity generation is hydro-based, while roughly a third comes from natural gas and another third from coal. However, the problem is that domestic output has been insufficient to meet rising demand: energy imports have therefore averaged $55 bn a year.

In order to reduce this deficit, the Ministry of Energy and Natural Resources (MENR) has been driving forward plans to boost domestic energy output across the board. This serves as a further step in the significant reforms of recent years relating to energy provision, which have resulted in much greater participation from private entities, and the creation of a more competitive energy market.

A more recent issue has emerged from the economic problems resulting from this year’s sharp devaluation of the Turkish Lira. In October, electricity and natural gas prices increased for the third consecutive month: electricity rates for residential consumers rose by 8 percent and for commercial and industrial consumers by 18 per cent. Since January 2018, Turkey’s natural gas prices have increased by 29.5 and 54 percent respectively for residential and commercial/industrial consumers.

As one of the top ten countries…

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Banking in Sri Lanka with NDB Bank

Originally published in October 2018, Issue 13

Since 1979, National Development Bank PLC (NDB Bank) has been committed to the financial success of Sri Lankans. Global Banking & Finance Review interviewed Mr. Dimantha Seneviratne, Director and Group Chief Executive Officer at National Development Bank PLC about the bank’s customer focused approach, product creation and their continued commitment to development in Sri Lanka.

National Development Bank (NDB) has been working with SME clients for over 30 years. How has this market evolved over the years?

NDB’s inception goes back to 1979, as a premier development financing institution in Sri Lanka, which was an apex body in disbursing credit lines from foreign investors. Since then, to date, nurturing SMEs has been one of our core commitments. As such our contribution to SMEs is perfected over the many decades we’ve served them.

SMEs over the years have evolved significantly. In terms of economic significance, SMEs which were relatively less prominent in the past have now become a major force in the Sri Lankan economy. They also possess the potential to develop in to large scale businesses in the future. Furthermore, SMEs have…

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