BAKU, Azerbaijan, January 16. The European Bank for Reconstruction and Development (EBRD) set a new record with 2.6 billion euros in investments in Türkiye in 2024, marking a continued rise from 2.5 billion euros in 2023 and 1.6 billion euros in 2022, Trend reports.
According to the bank, this was the fifth consecutive year that Türkiye received the Bank's largest volume of investment.
Of the 51 projects funded, 93% supported the private sector, with over 60% incorporating gender components. Green investments made up nearly 60% of the total, focusing on renewables, sustainability bonds, and green initiatives in major retailers.
A highlight was the launch of the Türkiye Industrial Decarbonisation Investment Platform (TIDIP) in collaboration with the Turkish Ministry of Industry and Technology, aiming to raise $5 billion by 2030. This builds on the EBRD’s previous work, including its first-ever loan to Türkiye’s cement sector to promote low-carbon pathways.
Additionally, the bank continued its recovery efforts in earthquake-affected regions, funding projects like the restoration of electricity distribution and water system reconstruction in Gaziantep. The largest financing of the year went to the North Marmara Motorway project with a 240 million euro syndicated loan.
Elisabetta Falcetti, the newly appointed Managing Director for Türkiye and the Caucasus, expressed optimism for continued partnership in advancing Türkiye’s green transition and infrastructure development as outlined in the 2024-29 country strategy.
The EBRD’s cumulative investment in Türkiye surpassed 22 billion euros by the end of 2024, with an ongoing focus on sustainable growth and regional integration.