EBRD President Renaud-Basso in Türkiye for talks

ISTANBUL

European Bank for Reconstruction and Development (EBRD) President Odile Renaud-Basso has embarked on a four-day visit to Türkiye, where she will engage in high-level meetings in Ankara and Istanbul.

"This visit reaffirms our dedication to supporting Türkiye’s vision for inclusive growth, innovation and a greener future,” Renaud-Basso said.

“Our shared commitment to sustainable development and economic resilience continues to strengthen,” she added.

Her visit will include meetings with representatives of the private sector, civil society organizations and government officials, the development bank said in a statement.

Renaud-Basso’s visit came shortly after the bank unveiled its five-year investment strategy for Türkiye, extending through to the end of 2029.

While in Ankara, Renaud-Basso will meet with key ministers to discuss the bank’s agenda in the country.

She will attend the launch of the Türkiye Industrial Decarbonisation Investment Platform (TIDIP), an initiative supported by the EBRD, which is aiming to deploy $5 billion of investment by 2030.

Renaud-Basso will also hold discussions with Central Bank Governor Fatih Karahan and diplomatic officials and representatives of other international financial institutions.

The bank is also expected to announce a number of new projects during the visit, including projects aimed at supporting economic recovery following the devastating earthquakes last year.

In 2023, the EBRD invested a record 2.5 billion euros in the country, driven by the bank’s strong response to the recovery and reconstruction needs of earthquake-affected cities.

The EBRD is one of Türkiye’s largest investors, with more than 21 billion euros committed through 461 projects and trade finance limits since 2009, most of it in the private sector.