The European Bank for Reconstruction and Development (EBRD) provided Turkey’s electricity company Enerjisa Enerji with a financing package worth $100 million in Turkish lira equivalent, the bank announced late Thursday.

Enerjisa Enerji is a joint venture between Sabanci Holding and German E.ON, with each holding a 40% share while the remaining 20% are free float shares on Turkey’s stock exchange, Borsa Istanbul.

As an electricity distribution and retail company, Enerjisa Enerji, serves around 21 million people in Turkey.

The EBRD’s loan will finance the company’s ongoing investment program including the improvement of grid infrastructure for sustainable and high-quality energy

Read more: EBRD loans $100M in Turkish lira equivalent to Enerjisa