European bank's investments in Turkey reach $2.26B in 2021
EUROPE

European bank's investments in Turkey reach $2.26B in 2021

More than 85% of investments channeled to private sector's projects, says European Bank for Reconstruction and Development

News Service AA

The European Bank for Reconstruction and Development (EBRD) has announced that its investments in Turkey reached €2 billion ($2.26 billion) in 2021.

More than 85% of the overall investments was channeled to the private sector while the 55% of the investments was dedicated to projects supporting sustainability, an EBRD statement said.

"As well as arranging its own financing, the EBRD mobilized an almost record-level of €572 million ($637 million) from other sources in 2021," the statement added.


Arvid Tuerkner, EBRD managing director for Turkey, said the bank’s financing for the economy is more important than ever.

"In challenging times our focus is on safeguarding economic development gains and creating opportunities for Turkey’s green and inclusive economic recovery from the pandemic," he added.

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