Published On: Tue, Jan 22nd, 2019

European Bank for Reconstruction and Development plans to invest in Turkey

European Bank for Reconstruction and Development plans to invest in Turkey

Despite the difficulties Turkey has been going through in the field of economy, it has maintained its attraction for foreign investors. Indeed important global establishments such as EBRD (European Bank for Reconstruction and Development) still find Turkey a promising market to invest in.

To provide an example, the EBRD invested € 1 billion in 34 projects in Turkey last year and is reported to be planning to invest another € 1 billion in this country this year as well.

Based on statement issued it is reported that the bank acts in the direction of demand and its concerned investments will depend on prevailing demand for funds, the willingness of local and foreign investors to invest, the status of capital markets and other factors.

Based on investment priorities the Bank is supposed to focus on export-oriented industries as well as agriculture, in 2019 as well as continue to focus on renewable energy. EBRD will also continue to support the promotion of innovation in the private sector. It is reported that the bank is scheduled to increase its stock portfolio in Turkey.

In the statement issued it is also reported that the stress on the banks in Turkey could cause a delay in economic recovery and it is necessary to design powerful policies to enable banks in Turkey to access finance facilities for a healthy continuation of economic activity in the country.

The statement also says Turkey is expected to experience a negative growth in 2 or 3 quarters this year. However, a gradual increase in economic growth is expected in the second half of the year. All in all Turkey is expected to see a growth of 1 percent in 2019.

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