Russia’s Sberbank has released $800m of loan funding to Akkuyu Nuclear, the company in charge of Turkey’s first nuclear new-build project at Akkuyu, near Mersin at the country’s southern Mediterranean coast.

Russia’s state nuclear corporation Rosatom, which is building Akkuyu, said Sberbank has opened two credit lines, of $500m and $300m, for the project over a period of seven years.

Rosatom said the funds will be used for financing the continued construction of the four-unit nuclear station.