Aksam - The European Bank for Reconstruction and Development (EBRD) plans to increase its investments in Turkey, according to EBRD Turkey Country Director, Jean-Patrick Marquet.
The bank will channel EUR 300 million to EUR 400 million of investments into Turkish assets this year, ERBD’s biggest yet for the country, including acquiring stakes in Borsa Istanbul and renewable energy company, Gama Enerji.
“EBRD’s lendings and investments in Turkey are expected to reach EUR 1.75 billion from 2014’s 1.4 billion”, Marquet said about the lender’s investment plans, adding that the country’s fundamentals for long-term growth were strong. EBRD reached an agreement to acquire 10 percent stakes in Borsa Istanbul last May and is said to be considering buying a USD 150 million share in Gama Enerji.
The bank’s Turkish portfolio primarily consists of renewable energy projects, including wind farms and geothermal plants. EBRD has recently announced a EUR 180 million funding program for Turkish renewable energy projects through Garanti and Yapi Kredi banks.