EBRD Considers Launching Turkish Investments

Directors at the European Bank for Reconstruction and Development (EBRD) have recommended that it branch out from its traditional operating sphere and start investing in Turkey. The EBRD has proposed investing EUR150mn (US$220mn) in Turkey in 2009 and a further EUR300mn in 2010. If these plans move forward, it would represent the banks first investments outside of former Soviet republics. The proposed Turkish investments would focus on developing the country's agribusiness sector, promoting energy efficiency, and distribute spending outside of the country's main cities. If the bank's 63 governors confirm the decision to move forward with these investments, it would

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