The European Bank for Reconstruction and Development (EBRD) announced a record investment of 5.1 billion euros ($ 5.9 billion) in the first half of 2020 to support economies affected by the coronavirus outbreak.
Turkey EBRD’s total investment in the first half of 2020 one in five, or nearly 1 billion euros, while Egypt was the second country with the most investment of 459 billion euros. The EBRD stated that 38 economies, from Estonia to Egypt and from Morocco to Mongolia, have been «heavily» affected by the pandemic, which it expects to contract by an average of 3.5 percent this year.
The bank’s total financing in the 38 economies in which it has invested increased to 3.7 billion euros in this period of the previous year and to 5 billion euros in the first six months of this year, compared to the previous record of 3.9 billion euros in 2016. Dealing with the pandemic, the EBRD also had to suspend its plans to expand its potential operations in sub-Saharan Africa. The EBRD was expected to present this plan to shareholders this year.
The EBRD, in which the G7 holds the majority share of the largest economies, reiterated its forecast to invest around 21 billion euros by the end of 2021. The EBRD so far, more than 300 projects in various sectors of Turkey’s economy to the private sector has invested nearly 12.4 billion euros. Turkey EBRD’s portfolio of 7 billion euros, the biggest investment bank in his 38 economy.
European Bank for Reconstruction and Development (EBRD), the highest investment among countries with 1.7 billion euros last year to Turkey..
All of the activities shown in 411 countries last year, a total of 11 billion euro investment project mentioned was made in a statement of Turkey, emphasized that most investment was made in the country.
EBRD Director for Turkey, given to the views in a statement Arvid tuerkei the EBRD, in these difficult times stating that enhance its support to the economy where customers and invest, «We provide emergency financing for the purchase of essential medical equipment in Turkey, and private sector operations throughout the crisis, growth and sustainability plans We helped to prevent disruption due to the epidemic. » used the expression.
Regarding the plans for 2021, Tuerkner said, “In 2021, our focus will not only be to support companies to survive the crisis, but also to help them become stronger and more sustainable.»