5/30/2011

IFC picks Turkey as regional headquarters, plans to invest USD 3 billion

Haberturk - The International Finance Corporation (IFC) is to invest USD 3 billion in Turkey over the next three years, said Executive Vice President and CEO Lars Thunell. The World Bank Group organization uses its Istanbul office to cover 52 countries in Europe, the Middle East and North Africa (EMENA) regions.

Underlining Turkey’s importance in IFC’s operations, Thunell said that IFC is engaged in providing finance for SMEs through financial institutions in the country and is working to improve the energy sector. “We are aiming to increase our investments in Turkey due to the high competitiveness levels of the local industry. The total projected amount for the next 3-4 years is around USD 3 billion,” said IFC CEO, adding that improvement on a massive scale is expected as a result. Turkey is the 5th largest recipient in the IFC portfolio, following Russia, India, China and Brazil.
Turkey; istanbul; regional office; ifc; world bank; international finance; ifc emena; ifc portfolio turkey; lars thunell

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