European bank's investments in Turkiye reach $2.26B in 2021

By Gokhan Ergocun

ISTANBUL (AA) - The European Bank for Reconstruction and Development (EBRD) has announced that its investments in Turkiye reached €2 billion ($2.26 billion) in 2021.

More than 85% of the overall investments was channeled to the private sector while the 55% of the investments was dedicated to projects supporting sustainability, an EBRD statement said.

"As well as arranging its own financing, the EBRD mobilized an almost record-level of €572 million ($637 million) from other sources in 2021," the statement added.

Arvid Tuerkner, EBRD managing director for Turkiye, said the bank’s financing for the economy is more important than ever.

"In challenging times our focus is on safeguarding economic development gains and creating opportunities for Turkey’s green and inclusive economic recovery from the pandemic," he added.