Turkey overview

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Turkey cityscape

The EBRD will focus on the following strategic priorities in Turkey for 2019-2024:

  • strengthening resilience of the financial sector and develop domestic capital and financial markets;
  • fostering Turkey’s knowledge economy and higher value-added activities, and promote good governance;
  • promoting economic inclusion and gender equality through private sector engagement;
  • accelerating Turkey’s green economy transition and regional energy connectivity.

As well as being a country of operation, Turkey is also a donor to the EBRD with a total contribution of €31 million. Turkey established its first bilateral donor fund with EBRD in January 2019, for an amount of €25 million.  The fund aims to support projects in Turkey, Azerbaijan, Moldova, Romania and the Kyrgyz Republic, with the potential to also support Moldova. The fund prioritises projects for SME development, financial sector stability, sustainable infrastructure, energy efficiency, governance and economic inclusion.  In 2013, Turkey provided EU funding to EBRD for its Women in Business programme.

The EBRD’s latest Turkey strategy was adopted on 24 July 2019.
 

Watch this video and hear from some of the people and projects we have supported in Turkey. From women entrepreneurs to small businesses, green projects as well as large scale infrastructure - we're doing more than ever before in Turkey.

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Turkey's policy response to the coronavirus crisis

The EBRD is monitoring Turkey's policy response to the coronavirus pandemic. Our biweekly publication identifies the major channels of disruption as well as selected impact and response indicators.

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Current EBRD forecast for Turkey’s Real GDP Growth in 2021 5.5%

Current EBRD forecast for Turkey’s Real GDP Growth in 2022 4.0%

Like most countries worldwide, the Turkish authorities implemented significant policy loosening in response to Covid-19. But in line with their response to previous crises, the authorities leaned particularly heavily on monetary loosening and credit expansion. In one sense this was a successful approach, with Turkey achieving GDP growth of 1.8 per cent in 2020, making it the only G20 country other than China to record positive growth in 2020.
 

TURKEY IN THE EBRD’S 2020-21 TRANSITION REPORT

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