Turkey Gains EBRD Backing

The European Bank for Reconstruction and Development will invest up to USD600 million in Turkey by the end of 2010. “A dynamic market economy in Turkey will benefit not only the people of Turkey, but also help strengthen other economies in the EBRD region given the country’s economic importance,” said the bank’s president, Thomas Mirow. “Such a move to help secure a sustainable economic future for the countries in our region is all the more important now at this time of global economic uncertainty.” The assistance will back micro, small and medium-sized enterprises; agribusiness; municipal environmental services; energy and energy efficiency; and privatization. (“Turkey to receive EBRD investments of USD600 million by 2010” - European Bank for Reconstruction and Development, Oct. 28, 2008)

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