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European Bank for Reconstruction and Development makes record investment in Turkey in 2023

The European Bank for Reconstruction and Development’s (EBRD) investments in Turkey reached a record of 2.5 billion euros in 2023. In a statement from the EBRD, the Bank’s investments in Turkey in 2022 and 2021 were 1.63 billion and 2 billion euros, respectively.

It was stated that the bank responded quickly to the recovery and reconstruction needs after the Kahramanmaraş-centered earthquakes in Turkey in February, and that the total investment volume in 2023, including recovery investments, reached 2.48 billion euros.

“The plan includes infrastructure investments and private sector support for small and medium-sized enterprises (SMEs), in addition to a €600 million Disaster Response Framework put in place through local partner banks to expand financial opportunities for affected businesses and individuals,” the statement said, adding that the EBRD has established a multi-year €1.5 billion investment plan to support the recovery, reconstruction and reintegration of the earthquake zone economy. As part of the plan, over 800 million euros were provided to the region, the statement said, adding that this constituted more than 30 percent of the EBRD’s investments in Turkey in 2023.

it was pointed out that green and inclusive projects also stand out in the EBRD’s investments in Turkey, and Turkey is the country with the highest investment volume among all economies in which the EBRD invests in 2023. it was noted that the EBRD financed 48 projects in Turkey last year, 91 percent of the investments were provided to the country’s private sector, about 58 percent contributed to the transition to a green economy and 60 percent of the projects included gender components.