EBRD to Open Ankara Office as it Increases Investment in Turkey

The European Bank for Reconstruction and Development has paid another tribute to the investment potential of Turkey. The bank announced yesterday that it will open a new office in the Turkish capital Ankara.

The EBRD has invested some 1.8 billion Euros into Turkish projects over the last three years since it began operating in the country.. When the new office opens the EBRD says it plans to increase the investments outward into Turkey to 1 billion Euros per year.

Last year saw Turkey officially become the fastest economy in Europe and it is also among the most stable countries in Europe and the world. This has made it very attractive to investors, including the EBRD, and companies like Vodafone, Tesco and British Telecom.

We are prepared to invest around EUR1 billion annually in Turkey in infrastructure, energy, agribusiness, industry and financial sectors, facilitating access to the much-needed financing for Turkish businesses, especially in the more remote regions of the country," said Varel Freeman, EBRD's First Vice President, at the launch event held today in Ankara.

"In just three years since we began our activity in Turkey, it became one of the most important countries where the EBRD invests. With a strong pipeline of projects ahead, the EBRD will continue to play a significant role in supporting the further development of the Turkish economy."

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