EBRD moves forward with emergency medical loan to Turkey – official
LONDON (Reuters) – The European Bank for Reconstruction and Development (EBRD) is pushing forward with plan to provide emergency medical loan to Turkey and has not received any guidance from shareholders to change its approach a senior EBRD official said on Thursday.
Turkey is the main investment destination for the development bank, which is majority owned by the economic powers of the G7. The lender’s investments in the country totaled 12.5 billion euros spread over 325 projects.
Earlier in October, the European Union, which owns part of the capital of the EBRD and co-finances investments with it, warned Turkey that it could impose sanctions on Ankara if the “provocations and pressures” continue in the Mediterranean. eastern.
“We are currently looking to help Turkey with an emergency loan on the medical side, this will be one of our first projects on the sovereign side,” said outgoing EBRD interim president Juergen Rigterink, adding that the project was “not under review”.
Asked about the bank’s involvement in Belarus, Rigterink said the lender was closely monitoring developments and consulting with shareholders.
“We have only invested in the private sector in Belarus and we expect this to be the case in the future,” he said.
At the end of September, the European Union’s lending arm, the European Investment Bank (EIB), announced that it would stop funding new projects in Belarus as part of the bloc’s response to the contested re-election of the president. Alexander Lukashenko, according to a source close to the Bank.
The EBRD invested a record 390 million euros in 24 private and public sector projects in Belarus in 2019 and 160 million euros ($ 188 million) in Belarus in the first half of 2020.
The bank’s approach to investing in Russia has not changed either, EBRD officials added.
(1 USD = 0.8510 euros)
Report by Karin Strohecker and Tom Arnold,