EBRD Vice President to visit Türkiye

• EBRD Vice President to visit Türkiye
• Visit to include stops in Istanbul, Ankara and the earthquake-hit region
• Mr Rigterink to meet the Minister of Treasury and Finance 

The First Vice President and Head of Client Services Group of the European Bank for Reconstruction and Development (EBRD) Jürgen Rigterink is to embark on a four-day visit to Türkiye on 24 March, with stops scheduled for the earthquake-hit cities in the south-east of the country.

Weeks after the devastating earthquakes in February 2023, the EBRD announced a €1.5 billion investment package that included credit lines, infrastructure investments, and support for the private sector and small and medium-sized enterprises.

The earthquakes killed more than 55,000 people and caused widespread damage. The effects are still being felt today, with the private sector in the region continuing to suffer from interruptions in supply and inventories, a loss of labour force and lack of accessible funding. Over half of the EBRD’s €1.5 billion response has already been made available to affected companies and individuals. 

As well as visiting the earthquake-hit region, Mr Rigterink will conduct high-level meetings in Istanbul and Ankara, including with the Minister of Treasury and Finance, Mehmet Simsek, and the recently appointed Governor of the Central Bank of the Republic of Türkiye, Fatih Karahan.

Ahead of his visit, Mr Rigterink noted the difficulties that Türkiye has been dealing with since the disaster. “It has been a challenging year for the country, particularly in the aftermath of the devastating earthquakes that left the economy in the region reeling.”

But the EBRD has shown its strong support for Türkiye over the last year, reaching a record €2.5 billion of investment. “I am proud that our swift and robust response has already made more than €800 million available to companies and individuals in the region, representing about 30 per cent of last year’s investments,” he said.

Looking ahead to his visit, he continued: “I always love coming to Turkiye, and I am looking forward to meeting the relevant stakeholders to discuss what has been achieved so far, and what EBRD can do more of to assist in the recovery of the region. I am also looking forward to meeting government officials to discuss the investment climate in Türkiye, and our long-lasting cooperation.”

The EBRD is one of Türkiye’s key investors, with nearly €19.5 billion invested across 440 projects and through trade finance limits since 2009, of which 93 per cent has been channelled to the private sector.