9/10/2008

Legal structure now ready for EIB Turkey office

Today’s Zaman - An agreement concluded between the European Investment Bank (EIB) and the Turkish Republic and ratified on June 3 by Parliament. It officially came into effect after being published in the Official Gazette, enabling the EIB to open branches and representative offices in Turkey. The EIB has a special mission of extending favorable loans to support investment in European countries and in countries that are involved in the EU accession process. With the agreement, the Turkish government is allowing the EIB to open two major offices, one in Istanbul and one in Ankara, and several representative offices connected to these main offices. The EIB will be able to invest in securities and real estate, to strike deals and make contracts with businesses as well as sell property.
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