2/29/2008

EBRD to intensify activities and investments in Turkey

The New Anatolian - The European Bank for Reconstruction and Development (EBRD), which is getting prepared to withdraw from the countries in central Europe, plans to make investments in Turkey in the upcoming period. Until 2010, EBRD will cut its financial support to the 8 former Eastern Block countries which have become EU member states in 2004, sources said. The bank, known as the "World Bank" of Europe, plans to intensify its activities and investments in Turkey after such date. According to officials, EBRD will hold an annual meeting in Ukrainian capital of Kiev in May during which it will announce its expansion strategy for the next 4 years. Turkey will be the main target of such strategy, sources said. The bank is expected to encourage foreign entrepreneurs to invest in the banking, tourism, media, energy, real estate, health, IT, agriculture and foodstuff sectors of Turkey and to participate in projects related to SMEs and infrastructure in the country.

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