Türkiye receives a record of €2.6 billion in 2024 from European Bank for Reconstruction and Development (EBRD), solidifying its position of the most invested country for 5 years in a row.
The EBRD's investments in Türkiye in 2024 increased by 4% compared to the previous year to €2.6 billion and was recorded as the highest investment on an annual basis, compared to €2.5 billion in 2023 and €1.6 billion in 2022, according to the bank.
The bank's record investment last year was driven by the private sector's appetite for green transformation and the Bank’s the ongoing support program for regions affected by the devastating February 2023 earthquake.
Projects in Türkiye accounted for about 16% of the bank's total investment of €16.6 billion, among the countries where it operated in 2024. For the fifth year in a row, Türkiye received the largest volume of investment of any of the bank’s investee economies. Türkiye was followed by Ukraine and Egypt.
Green transformation projects accounted for 60% of the €2.6 billion investment.
The bank allocated a significant portion of the €1.5 billion support program announced last year for the earthquake zone to infrastructure projects in the affected areas.
The bank's cumulative investment in Türkiye surpassed €20 billion in 2024, reaching over €22 billion by the end of the year.
Elisabetta Falcetti, EBRD Türkiye Managing Director, told Anadolu that it is significant that approximately 60% of investments in Türkiye are directed toward green transformation projects, including renewable energy, sustainable agriculture, and resource efficiency. This highlights the commitment of both the public and private sectors to accelerate the transformation.
'For our record numbers in 2024, I would have to mention our earthquake response. We have already made available a majority of our €1.5 billion initial package and continue to finance projects that seek to work towards reconstruction in the region. Just this past year, we made available financing for companies in the region, announced supply chain finance programs aiming to support the region’s SMEs and supported projects that seek to respond to the region’s need for critical services like clean water,' Falcetti said.
- 'We welcome the steps taken towards orthodox policies'
'A key factor in our success in Türkiye is the resilience and dynamism of the private sector. Their adaptability and expertise in navigating challenging conditions have fostered productive partnerships, driving impactful investments. We are confident in building on this success as we look ahead to 2025,' she said.
EBRD has been operating in Türkiye for nearly 15 years and has developed effective cooperation with public and private sector actors, Falcetti said.
'The EBRD is here for the long haul. The most important thing for us to have long-lasting investment outlook is a stable investment climate. Therefore, we monitor economic developments in the country very closely. So far, we are pleased to see a turnaround in investor confidence in Türkiye. We welcome the recent steps towards orthodoxy in economic policy, and believe that with the right structural reforms, there can be potential for further improvement. What matters to us is that economic stability continues, and the autonomy of monetary authorities continue to strengthen. With this in mind, we hope to continue supporting Türkiye on its journey to becoming a greener, more inclusive, competitive and integrated economy.'
Reporting by Nuran Erkul Kaya in London
Writing by Humeyra Ayaz
Anadolu Agency
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