Türkiye approved to become full member of EBRD

Hurriyet - European Bank for Reconstruction and Development (EBRD) governors approved on Monday a proposal for a timetable to decide by October on Türkiye’s inclusion in the bank's line-up of investment countries, AFP reported. Türkiye's formal application was approved "in principle," however the final approval process will take place 2-3 months later, the Anatolian Agency reported. Following the approval of full membership, Türkiye will be included among the active members of the Bank and a new finance opportunity will emerge for the private sector. The EBRD plans to gradually shift its investment from Central Europe and give priority to investments in Türkiye in the next period and is expected to announce Türkiye as the main target of its enlargement strategy. The Bank is also thought to assist Türkiye's integration with the European Union (EU). The Bank, within the framework of strategy for priority to Türkiye, will call on foreign investors to invest in banking, tourism, SMSEs, media, infrastructure investments, energy, real estate, health and information communication technologies, as well as agriculture and food areas.