ISTANBUL

The European Bank for Reconstruction and Development (EBRD) is scaling up its presence and investment in Türkiye, betting on the country’s innovation economy, green transition, and strategic position between Europe and Asia.

Speaking to Anadolu during his official visit, EBRD First Vice President Greg Guyett said the bank has invested €2.2 billion (around $2.55 billion) across 42 projects this year, spanning energy, infrastructure, small and medium-sized enterprises (SMEs), corporate development, and innovation.

“I believe that by the end of the year we will have a very good chance of meeting or exceeding what we delivered last year,” Guyett said, referring to 2024, when the bank’s investments in Türkiye hit €2.6 billion, a record high.

Guyett said his visit has been very productive, adding that he was particularly encouraged by Türkiye’s push in renewable energy and technological innovation. “I’m very, very impressed by the commitment to the energy transition and the creation of the energy system of the future,” he said.

- Istanbul to become a regional EBRD hub

Guyett emphasized that Istanbul will become one of the EBRD’s regional hubs, reflecting the city’s growing role in the bank’s global operations. “We will be growing our staff significantly here in Istanbul,” he said. “It’s very rewarding to see the incredible number of very highly talented individuals.”

He added that Türkiye’s geographic and geopolitical position makes it a vital center for data and trade.

As a result of geopolitical developments, data distribution and data localization have increased, and Türkiye will continue to be a center, he said.

The EBRD has also exceeded its commitment to Türkiye’s earthquake recovery program, channeling €1.6 billion into reconstruction and support for affected communities. “The things that I am most proud of are how we have supported people that have been displaced in the region – housing, shelter, creating jobs through some of our SME initiatives,” Guyett said.

He said further investment is planned for the earthquake-hit areas, especially in housing and job creation, noting that some areas particularly need more efforts.

- Confidence in Türkiye’s economic outlook

Despite global economic uncertainty, Guyett said the EBRD remains optimistic about Türkiye’s long-term potential, citing its young, growing, and well-educated population as a major advantage.

He expressed confidence that Türkiye’s current economic policies will help tame inflation. “We continue to wish and hope and believe that the policies of the government will continue to bring inflation down,” he said.

“We have already seen the rate of increase of inflation come down … We are confident that the policies the government has put in place will continue to push the rate of inflation lower.”

Still, he acknowledged that inflation remains a top concern among the bank’s clients and for the bank itself.

Guyett also pointed to changing global trade dynamics as a potential advantage for Türkiye. Shifts in supply chains and energy corridors are altering trade flows between Asia and Europe, creating new opportunities for the country’s exporters and logistics sectors.

“We are seeing more trade in the Asia-Europe corridor,” he said. “I think Türkiye is a very well-located country to be a gateway to Western Europe, as well as a very strong hub for the region to the east.”

He said the EBRD’s mission aligns closely with Türkiye’s ambitions to expand its renewable energy base, strengthen private-sector competitiveness, and deepen its role in regional supply chains.

Guyett said the bank’s future work in the country will focus on clean energy, innovation, and private-sector development, with an emphasis on mobilizing private capital for sustainable growth.

There are many opportunities in Türkiye for the EBRD to fulfill its mission – in clean energy, in the energy system of the future, in supporting the development of the private sector, and in mobilizing the private sector, he added.