Sunday, 09 May 2021 05:07 GMT

European Bank records investments worth USD13B in 2020 in Turkey

( MENAFN )The bank’s president stated that the fact that the Turkish private sector is “very dynamic” promotes the European Bank for Reconstruction and Development (EBRD) to invest in Turkey.

Anadolu Agency quoted Odile Renaud-Basso as saying that "It's a country that has very vibrant private activity, which opens up a lot of opportunities for the EBRD to intervene, to encourage the private sector to bring in money to be greener."

“We do not have a country-based investment target. Our expectation is remaining around the same, between €1-1.5 billion (USD1.2-1.8 billion) 2021," Renaud-Basso further stated, stressing that the bank investments are project-driven.

She added that Turkey was the leading recipient of the EBRD investments in 2020, saying that the bank financed €1.7 billion (USD2 billion) in light of the COVID-19 pandemic.

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