EBRD investments in Türkiye tops 21 bln euros

ANKARA

Odile Renaud-Basso, the president of the European Bank for Reconstruction and Development (EBRD), has announced that the bank's investments in Türkiye have reached 2.2 billion euros so far this year, bringing total investments to over 21 billion euros.

Following her meetings with President Recep Tayyip Erdoğan and other Turkish officials, Renaud-Basso discussed the EBRD’s priorities in Türkiye. She stated that they talked about supporting various projects, strategic policy objectives and how to bolster investment opportunities in the country.

Describing Türkiye as a key market, Renaud-Basso outlined the focus of the bank’s activities in recent years.

"This year, we’ve already signed 2.2 billion euros of investment, and with some time still left before the year ends, we expect to come close to last year's investment level of 2.5 billion euros, which was our highest annual investment in Türkiye," Renaud-Basso explained.

She also highlighted that 50 percent of EBRD’s investments are directed toward the green sector, with over 60 percent of these investments incorporating a gender component aimed at increasing female participation in the workforce.

She also welcomed the latest economic policies aiming at curbing inflation.

“Loose monetary policy led to inflation, but there has been progress in balancing the current account deficit. We expect inflation to drop to around 40-45 percent by the end of the year,” Renaud-Basso noted.

Renaud-Basso said that the EBRD has been investing in Türkiye since 2009, making it the bank's largest investment destination to date.