3/1/2010

EIB increasing loans to Turkish energy and infrastructure projects

 

AA - The European Investment Bank (EIB) will provide up to EUR 2.6 billion in loans to Turkey in 2010, exceeding its target of two billion.

 

Matthias Kollatz-Ahnen, EIB Vice President in charge of financing operations in Croatia and Turkey, told the press that they have reduced the share of loans granted to SMEs in Turkey, giving more weight to renewable energy projects and infrastructure projects of municipalities.

 

Kollatz-Ahnen said banks in Turkey did not run into difficulties following the global financial crisis, noting that this was a major advantage.

 

Kollatz-Ahnen said the recovery of the Turkish economy will continue full steam ahead, underlining that the recent upgrade of Turkey's credit rate by international credit rating agencies is no coincidence. "Turkey's economic stability, which has a positive impact on its region, will continue", said Kollatz-Ahnen.

 

The EIB, which began its financing operations in Turkey in 1965, has provided EUR 10.2 billion in loans to Turkey in the last decade.

 

EIB; turkey; sme loans; renewable energy; Matthias Kollatz-Ahnen

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