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.

More videos

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.

Learn more

Current EBRD forecast for Turkey’s Real GDP Growth in 2022 2.0%

Current EBRD forecast for Turkey’s Real GDP Growth in 2023 3.5%

A combination of rising net exports and strong household consumption saw the Turkish economy grow by 11 per cent in 2021. However, this performance was achieved at the expense of significant macroeconomic instability. Aiming to increase export competitiveness and private investment, and relying on a rebalancing of the current account to bring price stability, the authorities cut interest rates deep into negative real territory starting in September 2021, allowing the currency to depreciate – at one point by 60 per cent compared with the start of the year – and spurring a shift in bank deposits to foreign  currencies.
 

TURKEY IN THE EBRD’S 2020-21 TRANSITION REPORT

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