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Since initiating operations in Turkey in 2009 the Bank signed a total of 55 projects with cumulative investment value of close to Euro 1.6 billion. Total project value of these investments was just under Euro 5 billion.
Turkey’s economy has shown robust growth in recent years and its banks weathered the global financial turmoil well, as evidenced by their balance sheet strength. Earlier financial sector reforms set the foundations for the stability of the banking system today. Economic growth was 9.2 per cent in 2010 and slowed to 8.5 per cent in 2011, with signs of overheating starting to materialise.
The EBRD and Turkey
In all its operations, and importantly in its policy dialogue with the authorities, the Bank will coordinate closely with other international financial institutions and bilateral donors to achieve maximum impact from its projects.
The effectiveness of this Country Strategy in addressing the country’s remaining transition challenges will depend crucially on the continued commitment of the Turkish Government to implement market reforms and to further strengthen the business environment.
Last updated 3 May 2012