The investments of the European Bank for Reconstruction and Development (EBRD) into Turkey continued to mount in 2020, marking the country its primary investment destination even in the midst of the COVID-19 outbreak.
EBRD released a statement which said, “The bank lifted up its financing in Turkey to EUR 1.7 billion in 2020 through 33 projects, whereas it had been EUR 1 billion in 2019.”
Although 36 economies and 411 projects entered the EBRD’s 2020 portfolio, Turkey took the lead with its 33 projects.
Commenting on the 2020 investment figures of the bank, Arvid Tuerkner, EBRD managing director for Turkey explained, “We have financed Turkey for it to acquire key medical equipment and have helped the country’s private sector through the pandemic to warrant sustainability of daily business operations, expansion, and plans in such tough times for all global actors.”
He added that the EBRD’s financial support will be maintained in 2021 to assist Turkey-based companies to be more sustainable.