TURKEY

EBRD, Turkey sign donor fund agreement

EBRD, TURKEY SIGN DONOR FUND AGREEMENT

Turkey's Treasury and the European Bank for Reconstruction and Development (EBRD) on Friday signed a donor fund agreement to support what they called "socially important projects".

The agreement was signed by Deputy Prime Minister Mehmet Simsek and EBRD head Suma Chakrabarti in the presence of President Recep Tayyip Erdoğan in Istanbul.

According a statement, the Turkish government will co-finance socially important projects which will be executed in line with EBRD standards and requirements.

Erdoğan said Turkey had an active cooperation with EBRD which had moved to a new phase with the agreement.

"The Turkish economy will continue to grow. Those who invest [in Turkey] will be winners," he added.

Simsek said Turkey chose EBRD because it supported the economies of countries where it was operating.

Chakrabarti said Turkey had been a "star performer" ever since they began investing there.

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