BAKU, Azerbaijan, November 17. President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso is set to embark on avisit to Türkiye, Trend reports.
The four-day visit, starting on November 20, will involve high-level meetings with senior officials, private-sector clients, civil society organizations, and international partners.
The president's program includes a visit to the earthquake-affected region, where she will meet with clients, local governing bodies, visit temporary accommodations, and engage with representatives from civil society organizations actively involved in the region.
"Türkiye is one of our key markets and gateway for trade for many of our countries of operations, so we are absolutely committed to supporting the country’s vibrant private sector and its sustainable economic development. I very much look forward to valuable discussions with my hosts, as well as to visiting the earthquake-affected area. I believe the partnership between the EBRD and Türkiye will provide for greener, more resilient reconstruction in the affected region. Ahead of COP28 next month, I also very much look forward to discussing how EBRD can accelerate the decarbonisation of the most emitting sectors of Türkiye which is critical for Türkiye to meet its carbon neutrality commitment by 2053," President Renaud-Basso said prior to the visit.
Türkiye stands as one of the EBRD's major markets, with the Bank channeling over 19.2 billion euros into 431 projects since its inception in 2009. Over 90 percent of this investment has been directed towards the private sector.
The Bank has unveiled a 1.5 billion euros investment initiative for the region, designed to mitigate the economic repercussions of the earthquake occured earlier this year. Within this plan is the 600 million euros Disaster Response Framework, marking the first deployment of such a framework in the EBRD regions. This framework aims to assist affected companies and individuals, offering new lending opportunities for businesses involved in the recovery and reconstruction efforts in the affected area.