Hurriyet - European Bank for Reconstruction and Development (EBRD) governors approved on Monday a proposal for a timetable to decide by October on Turkey’s inclusion in the bank's line-up of investment countries, AFP reported. Turkey's formal application was approved "in principle," however the final approval process will take place 2-3 months later, the Anatolian Agency reported.
Following the approval of full membership, Turkey will be included among the active members of the Bank and a new finance opportunity will emerge for the private sector. The EBRD plans to gradually shift its investment from Central Europe and give priority to investments in Turkey in the next period and is expected to announce Turkey as the main target of its enlargement strategy.
The Bank is also thought to assist Turkey's integration with the European Union (EU). The Bank, within the framework of strategy for priority to Turkey, will call on foreign investors to invest in banking, tourism, SMSEs, media, infrastructure investments, energy, real estate, health and information communication technologies, as well as agriculture and food areas.