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European Invest Bank increases loans to Turkish energy and infrastructure projects

Posted on 14 February 2011

Date: 04/03/2010
European Invest Bank increases loans to Turkish energy and infrastructure projects

The European Investment Bank (EIB) will provide up to EUR 2.6 billion in loans to Turkey in 2010, more than its target of two billion.

Matthias Kollatz-Ahnen, EIB Vice President in charge of financing operations in Croatia and Turkey, told the press that they have reduced the share of SMEs in loans provided to Turkey, giving more weight to renewable energy projects and infrastructure projects of municipalities.

Kollatz-Ahnen said banks in Turkey did not run into difficulties due to the global financial crisis, noting that this was a major advantage.

Kollatz-Ahnen said the recovery of the Turkish economy will continue at full steam ahead, underlining that the recent upgrade of Turkey’s credit rate by international credit rating agencies is no coincidence. “Turkey’s economic stability, a positive impact on its region, will continue”, said Kollatz-Ahnen.

EIB, which began its financing operations in Turkey since 1965, has provided EUR 10.2 billion to Turkey in loans in the last decade.

1 March 2010 Invest in Turkey (AA)

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