The fact that Turkish private sector is 鈥渧ery dynamic鈥� encourages the European Bank for Reconstruction and Development (EBRD) to invest in Turkey, according to the bank鈥檚 president.鈥�
"It's a country that has very vibrant private activity, which opens up a lot of opportunities for the EBRD to intervene, to encourage the private sector to bring in money to be greener," Odile Renaud-Basso told Anadolu Agency.鈥�
Highlighting that the bank investments are project-driven, Renaud-Basso said: 鈥淲e do not have a country-based investment target. Our expectation is remaining around the same, between 鈧�1-1.5 billion ($1.2-1.8 billion) this year."鈥�
Last year, Turkey was the leading recipient of the EBRD investments, she said, adding the bank provided financing of 鈧�1.7 billion ($2 billion) in response to the COVID-19 pandemic.
The bank made record investments worth 鈧�11 billion in 2020 through 411 projects across three dozen economies.
The EBRD is a major investor in Turkey and since 2009, the bank has invested more than 鈧�13 billion in the country through 339 projects, 93% of which is in the private sector.
Reporting by Gokhan Kurtaran in London
Writing by Tuba Sahin
Anadolu Agency
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