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EBRD plans to raise investments in Turkey in 2020

EBRD plans to raise investments in Turkey in 2020 Photo: EBRD

ANKARA (Turkey), January 20 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) plans to boost its investments in Turkey in 2020 as it expects the country's economy to recover, the bank said.

The EBRD deployed 1 billion euro ($1.1 billion) in debt and equity financing for 35 Turkish projects in 2019 - a year that saw very low levels of public and private investment in the country as a result of sanctions threats and market instability, the bank said last week.

It, however, did not provide a figure for its planned investments in the country in 2020. 

“As investors will look for finance, we will aim to support even more investment projects that boost the economy, create jobs and improve people’s lives,” Arvid Tuerkner, EBRD managing director for Turkey, said. 

The EBRD noted in its statement it plans to continue working with Ankara to liberalise the railway sector, as well as to deploy energy efficiency technologies in schools. It also looks to expand its Women in Business programme, attracting new lenders to the initiative, and explore opportunities for Islamic financial products. 

Since 2009 the bank has invested almost 12 billion euro in various sectors of the Turkish economy, according to the statement. 

($= 0.9017 euro)