EBRD supports Turkey with EUR 1 bn

EBRD supports Turkey with EUR 1 bn
"In 2018, it was a year of geopolitical tension, a year of pressure on the economy, with a dramatic devaluation of the lira's strength, which caused a great deal of concern among investors, but the European Bank for Reconstruction and Development maintained a serious commitment in the Turkish economy".

"The European Bank for Reconstruction and Development has invested EUR 1 billion in 2018 by supporting 34 projects in Turkey, and intends to do the same in 2019; we will keep funding at the same levels, at EUR 1 billion".

Arvid Tuerkner, the executive director of the European Bank for Reconstruction and Development, in an interview with the Anadolu news agency, also said EBDR intends to support the Turkish lira by facilitating the funding of projects and supporting the smooth operation of the financial system.

The European Bank for Reconstruction and Development (EBRD) plans to focus on agriculture, energy and exports.

"Despite turmoil in the economy, Turkey's strong fundamentals remain. Its strategic location geographically does not just make it trade-friendly – the climate and the country’s culture make Turkey a wonderful tourist destination. I think the country rightly has high expectations for the revival of its tourist traffic this year", Arvid Tuerkner said.

The presiding country of the EU for the first half of 2019, Romania, intends to hold an EU-Turkey summit in early March, according to Romania's Foreign Minister Teodor Melescanu, as recorded in the Turkish media.

The Summit is expected to take place in Bucharest with the participation of Turkish President Recep Tayyip Erdogan.

The last EU-Turkey Summit was held in Varna in March 2018, during Bulgaria's presidency of the EU./IBNA

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