EBRD President Thomas Mirow is to visit Turkey from 15 to 17 November and his discussions in both Ankara and Istanbul will reinforce the Bank’s strong commitment to supporting economic reform in the country.
The President, accompanied by Olivier Descamps, the EBRD’s managing Director for Turkey, Eastern Europe, Caucasus and Central Asia, will hold talks with top government officials in the Turkish capital on 15 and 16 November.
The President will also meet members of the Turkish business community in Ankara and Istanbul on 17 November.
Turkey is fast becoming one of the most important destinations for EBRD financing among the 29 countries in which the Bank invests.
By the end of September this year, the EBRD had signed a total of 45 projects with cumulative investment value of close to €1.3 billion since initiating operations just over two years ago. The total project value of these investments – including financing from commercial partners – was just under €4 billion.
The EBRD has provided significant funding through key Turkish banks for energy efficiency and renewable energy projects and for micro, small and medium-sized enterprises, and has made direct investments in energy and infrastructure while also providing financing to the corporate sector.
The Bank’s debut investment in Turkey in May 2009 was financing of €45 million for the construction of the largest wind farm in the country – a project that aimed to help Turkey promote clean energy and reduce dependency on imported fuel sources.
One key plank of the Bank’s investment programme since then has been its Mid-size Sustainable Energy Financing Facility, or MidSEFF, which has continued the drive to reduce Turkey’s dependence on fossil fuels by financing private sector investments in mid-size sustainable energy projects.