- EBRD President on four-day visit to Türkiye
- Meetings with senior government officials, clients, civil society
- Visit to include meetings in earthquake-hit cities
The President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, will return to Türkiye for the first time since the devastating earthquake to start a four-day visit to Türkiye on 20 November, during which she will hold a series of high-level meetings with senior officials, private-sector clients, civil-society organisations and international partners.
During her visit, the President will meet with representatives from the Presidency of the Republic of Türkiye, as well as the Ministry of Treasury and Finance, Ministry of Industry and Technology, Ministry of Energy and Natural Resources and the Ministry of Environment, Urbanisation and Climate Change. She will also have a discussion with the Governor of the Central Bank of the Republic of Türkiye.
The President will also meet with Ekrem Imamoglu, the Mayor of Istanbul; and Fatma Sahin, the Mayor of Gaziantep.
In addition, the President’s programme will include a visit to the earthquake-hit region, where she will visit clients, local governing bodies, temporary accommodation and representatives from civil society organisations that have been active in the region.
Discussing the agenda of her visit, the EBRD President said: “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”.
A series of earthquakes hit the country’s south-eastern region early this year, killing more than 50,000 people and causing widespread damage. Official estimates put the cost of the damage and reconstruction at US$ 100 billion.
The Bank has previously announced a €1.5 billion investment plan for the region, set up to lessen the economic impact of the disaster. The plan includes the €600 million Disaster Response Framework, (the first such framework deployed in the EBRD regions), which supports affected companies and individuals, and provides new lending for companies participating in recovery and reconstruction efforts in the area.
The President’s last visit to the country was in October 2022. The EBRD invested €1.63 billion in Türkiye in 2022, the highest volume of annual EBRD investment among the economies where the Bank operates.
Türkiye is one of the EBRD’s largest markets and the Bank has invested more than €19.2 billion in 431 projects since it began work there in 2009. More than 90 per cent of that investment has been in the private sector.