EBRD First Vice President visits Turkey

By Olga Rosca

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The European Bank for Reconstruction and Development’s First Vice President, Philip Bennett, visited Turkey on 8-9 April 2013 for discussions on investment opportunities with leading industrial and banking groups and senior government officials.

The EBRD, established initially to help central and eastern Europe and the former Soviet Union countries to develop well-functioning market economies, has been investing in Turkey since 2009. In 2012 the Bank’s investments in Turkey totalled €1.05 billion in 28 projects. This made Turkey the EBRD’s second-largest country of operations in terms of annual business volume.

During his visit, Mr Bennett met Undersecretary of the Turkish Treasury, Ibrahim Çanakci, and Undersecretary of the Ministry of Energy and Natural Resources Metin Kilci. He also held talks with the CEOs of leading business and banking groups, including the management of the international transit hub Asyaport in the north-east of Turkey, partner bank Isbank as well as the Akfen, AES/Entek, Energaz-STFA Inv. business holdings.

Mr Bennett’s visit came ahead of the  EBRD’s Annual Meeting and Business Forum in Turkey’s business capital Istanbul on 10-11 May 2013 where senior policy-makers and business leaders will discuss and seek solutions to key challenges facing the EBRD’s countries of operations.

Since the beginning of its operations in Turkey, the EBRD has committed around €2.6 billion within 78 projects. In Turkey, the EBRD focuses on sustainable energy, small and medium-sized enterprise (SME) financing, in particular in remote regions, regional and rural infrastructure, as well as on agribusiness. The Bank’s activities in the country are supported by an active policy dialogue with the Turkish authorities.

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