20 billion euro investment from EBRD to Turkey

Arvid Tuerkner, Managing Director for Turkey at the European Bank for Reconstruction and Development (EBRD), emphasized that the bank's total investments in Turkey have exceeded 20 billion euros, noting that the private sector in Turkey is highly vibrant and possesses a strong appetite for growth, innovation, and development.

Reporting that the EBRD's total investments in Turkey have surpassed 20 billion euros, Tuerkner stated, "This reflects the strength of the partnership between our Bank and our partners in the country, as well as our long-term commitment to and belief in the potential of the Turkish economy, even during challenging times."

Tuerkner stated that the private sector in Turkey is quite vibrant and possesses a strong appetite for growth, innovation, and development.

Noting that this dynamism manifests itself in the entrepreneurial spirit and the constant drive for progress seen across various sectors, Tuerkner said it must be acknowledged that the economic environment contains significant challenges.

Stating that predictability in the investment climate and regulations is critical, Tuerkner continued his speech as follows:

"One of the most important lessons I have learned from my experiences in Turkey is the extraordinary capacity of the Turkish private sector to adapt to these challenges. The agility and resilience demonstrated by local businesses are admirable. However, when faced with constant and severe economic fluctuations, these qualities alone may not be sufficient. At this point, the role of international investors like us gains great importance. Our presence and financial support are essential for promoting stability and progress in the Turkish economy. By providing much-needed capital and expertise, we help bridge gaps and create a more favorable environment for sustainable growth. Therefore, it is imperative to consistently support the autonomy of local institutions, the effectiveness of regulatory frameworks, and the implementation of structural reforms that improve the investment climate."

Tuerkner stated that inflationary pressures in the country persist despite interest rate hikes, and continued as follows:

"However, we welcome the signs that a disinflationary path has begun. High inflation makes pricing strategies difficult even for the most agile private sector firms, fueling uncertainty and caution. When faced with uncertainties, resilience becomes even more important for economies. We are working with our partners and clients in Turkey to invest in projects that can increase the resilience of the Turkish economy. A powerful way to achieve this is to build an inclusive and green economy that can absorb both global and local shocks."