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EBRD provides Turkey with USD1b to handle refugees
(MENAFN) The European Bank for Reconstruction and Development (EBRD), plans for a financing package worth USD1 billion for Turkey, one of EBRD's nations that have been seriously impacted by the migration of Syrians.
In order to contribute to the mobilization of grant funding, management of the bank will offer shareholders an allocation from the bank's gross revenue of nearly USD111.5 million over a period of three years, from 2016 to 2018.
The EBRD is already a top investor in Turkey, with USD2.1 billion and plans to continue providing a high level of finance, especially after its investments have grown solidly in the southern and eastern Mediterranean region.
EBRD is an international financial institution founded in 1991 which uses investment as a tool to build market economies, and it currently supports development in 30 countries from central Europe to central Asia.
In order to contribute to the mobilization of grant funding, management of the bank will offer shareholders an allocation from the bank's gross revenue of nearly USD111.5 million over a period of three years, from 2016 to 2018.
The EBRD is already a top investor in Turkey, with USD2.1 billion and plans to continue providing a high level of finance, especially after its investments have grown solidly in the southern and eastern Mediterranean region.
EBRD is an international financial institution founded in 1991 which uses investment as a tool to build market economies, and it currently supports development in 30 countries from central Europe to central Asia.
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