8/1/2008

EBRD head says nod for Turkey's application is likely in October

Hurriyet English - Shareholders of the European Bank for Reconstruction and Development (EBRD) are likely to approve Turkey's application to benefit from the development bank's investments, the EBRD's new head Thomas Mirow said. “I would not dare to give a forecast on whether it would be an unanimous decision but I expect a 'yes' decision on Turkey,” Mirow, who took over as president of the development bank in July, told reporters at a briefing. The EBRD's 63 members, including Turkey itself, are expected to vote on the application in October. The EBRD will begin operations in Turkey in 2009 if the application is approved. "It would start with a modest (investment) sum being raised gradually,” Mirow said.
/Style%20Library/Invest/images/news.png