Turkey becomes donor to EBRD-led projects
The EBRD is a major investor in the country. To date, the Bank has invested €10 billion in various sectors of the Turkish economy with almost all investments in the private sector. These are combined with support for policies which help modernise the country’s economy and build up its resilience.
President Chakrabarti’s visit will mark the establishment of the EBRD-Turkey donor fund as the country becomes a benefactor to the EBRD, in addition to being a founding shareholder and the Bank’s largest country of operations by investment volume.
As a donor Turkey, through the Undersecretariat of Treasury, will co-finance socially important EBRD-led projects which help boost economic growth and improve people’s lives.
During his visit, President Chakrabarti will meet the country’s leadership to take stock of the Bank’s robust contribution to the Turkish economy and discuss the reforms needed to help the country realise its full economic potential.
The programme also includes meetings with the top management of Turkey’s largest conglomerates and the EBRD’s strong partners, Koç and Sabancı holdings, and the biggest private lender İşbank.
In addition, President Chakrabarti will address the general assembly of the leading Turkish business association TÜSİAD to reinforce how innovation, economic inclusion and “green” practices can make Turkey’s economy more competitive.
The President will be accompanied by the new EBRD Managing Director for Turkey, Arvid Tuerkner, who took over the Istanbul-based post on 1 November 2017.
In Turkey, the EBRD focuses on investment in sustainable energy, improving infrastructure, strengthening the competitiveness of the private sector, including of small firms, deepening local capital and local currency markets, while promoting greater job and training opportunities for women, youth and people in remote areas.