By Tolga Albay
IZMIR
The European Bank for Reconstruction and Development (EBRD) believes
Noting that the EBRD has been operating in Turkey since 2009, Arvid
"Since 2009, Turkey has really been a success story for the EBRD,"
He stressed that 96 percent of the bank’s investments in Turkey were made in
"We have invested in total close to €11 billion (approximately $12.8 billion) into the projects in Turkey since 2009," he added.
Stating that the EBRD is a demand-driven organization, and considering the "investment appetite" in Turkey,
He also highlighted the role of Turkish banks and financial institutions on reaching to SMEs (small and medium-sized enterprises) and women in business for financing their projects.
Touching the recent foreign exchange market fluctuations in the country,
"Current period is a difficult one for Turkey, it is a very volatile environment. Regardless, EBRD continues to remain open for business," he noted.
The EBRD has provided a loan of €80 million (nearly $94 million) for the construction of a new 7.2-kilometer (4.4-mile) metro line in Turkey's Aegean province of Izmir, the bank said in a statement on Thursday.
The bank previously extended more than €55 million (more than $64 million) financing for new vehicles for the Izmir metro system and new car ferries to support an environmentally friendly alternative to the city's busy roads.
In 2017 alone, the EBRD invested €1.6 billion (some $1.8 billion) in 51 projects in the country -- nearly a third of this financing was provided in Turkish Lira.
Since 2009, the EBRD has invested nearly €11 billion (approximately $13 billion) in Turkey -- a top destination for the bank’s finance.
* Jeyhun Aliyev contributed to this story from Ankara
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