A Turkish manufacturer has slashed its energy usage by 12%, thanks to the loan provided by a London-based bank.

The $9 million (£5.84m) loan from the European Bank for Reconstruction and Development (EBRD) helped Sinbo – a manufacturer of household appliances such as bread-making machines, hairdryers and electric fans – install energy efficiency measures in its factory (pictured) in Avcilar, outside Istanbul.

The company upgraded its heating and cooling systems, replaced old motors and lighting and insulated the factory, which helped reduce its energy costs.

According to the EBRD, Turkey imports 70% of it energy needs and consumption is expected to double in the next 10 years.