The European Bank for Reconstruction and Development is stepping up its operations in Turkey with an estimated annual investment of 1.5 billion euros (USD2.1 billion) in local firms, the Hürriyet Daily News & Economic Review reports. 

EBRD Turkey director Michael Davey told the Turkish daily that Turkey may well become the second-largest country for EBRD operations, with the bank supporting transition from state ownership to privatization of critical transport and energy infrastructure. 

“The sectors we are looking at include agriculture, women in business, environmental infrastructure, energy efficiency and renewable energy,” Davey said. “Waste management at the municipal level is also becoming more important in terms of Turkey’s environmental compliance with EU criteria.”

The bank is also aiming to develop Turkey’s micro and small enterprises.

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    Tarra Quismundo

    Tarra Quismundo joined Devex Manila as a staff writer in October 2009 after more than six years of working as a reporter for the Philippine Daily Inquirer, a nationwide daily, for which she covered major breaking news in politics, military, police and international affairs. Tarra's Devex News coverage focuses on key Asian donors and top aid officials around the globe.