Turkey to co-finance European bank-led projects

Turkey will co-finance projects led by the European Bank for Reconstruction and Development (EBRD) through the Turkish Treasury, the bank said Tuesday.

The EBRD-Turkey donor fund will be established during a visit by the bank's president Suma Chakrabarti to Turkey from Jan.18-19, according to a statement.

Chakrabarti will gather with top economic officials of Turkey to discuss the bank's contribution to the Turkish economy and reforms needed to help the country realize its full economic potential.

"In addition President Chakrabarti will address the general assembly of the leading Turkish business association TUSIAD to reinforce how innovation, economic inclusion and 'green' practices can make Turkey’s economy more competitive," the statement added.

The EBRD has invested €10 billion in various sectors of Turkey with almost all investments in the private sector, the bank said.

"These are combined with support for policies which help modernise the country’s economy and build up its resilience," it said.