The EBRD invested more in Turkey in 2022

The European Bank for Reconstruction and Development has announced the details of its investments in Turkey in 2022. Consequently, the bank’s total investment in Turkey reached 17 billion euros with its investments in 2022, and 85 percent of these Investments were made by the private sector.

Turkey, where the bank invested 1.63 billion euros last year, has become the country in which the EBRD has invested the most annually for the third consecutive year among the economies in which it operates. The EBRD’s total investment in the countries where it operates exceeded €13 billion for the first time in 2022.

More than half of the EBRD’s annual investments in Turkey were financed to support green transformation and the transition to a low-carbon economy. In this context, €500 million of funding was provided to projects that will increase energy efficiency, renewable energy and grid resilience under the Green Economy Financing Program (GEFF).

200 MILLION EUROS IN RESOURCES TO FORD OTOSAN

While the Bank allocates €200 million to Ford Otosan to help Turkey become a European manufacturing hub for the production of commercial electric vehicles, investments in wind power and metro line projects that contribute to energy solutions sustainable transport were also among the investments last year.

Projects that promote gender equality were highlighted among the EBRD focal points last year. In 2022, when the 10th anniversary of the Support for the Financing and Consulting of Women’s Businesses program is celebrated, the financing allocated to the program reached 900 million euros.

On the other hand, the EBRD provided 127 million euros to İşbank and 50 million euros to Akbank to be transferred to projects led by women.

‘OUR FOCUSED JOURNEY ON THE GREEN ECONOMY WILL CONTINUE’

Arvid Tuerkner, Managing Director of EBRD Turkey, whose views are included in the statement, affirmed that EBRD financing is an important source of support for the Turkish private sector during the period of volatility in global markets, saying: “We are proud that more than half of our investments in Turkey last year were allocated to projects oriented towards ecological transformation. This transformation creates more employment and increases the resilience of Turkish companies. Our inclusive and green economy oriented journey will continue in Turkey.” (AA)