The European Bank for Reconstruction and Development (EBRD) invested a record EUR 2.48 billion in Turkey in 2023, responding quickly to the need for recovery and reconstruction following the earthquakes.
Turkey ranked first among all economies in which the EBRD invested in 2023 with an investment of EUR 2.48 billion.
The EBRD had invested EUR 1.63 billion in Turkey in 2022 and EUR 2 billion in 2021.
The EBRD has announced a multi-year EUR 1.5 billion investment plan for the earthquake-affected region aimed at supporting the recovery, reconstruction and reintegration of the regional economy. The plan includes infrastructure investments and private sector support for small and medium-sized enterprises (SMEs), in addition to a EUR 600 million Disaster Response Framework offered through local partner banks to expand financial opportunities for affected businesses and individuals.
As part of the earthquake response plan, the EBRD provided more than EUR 800 million to companies and individuals in the region. This represents more than 30 percent of the EBRD’s investments in Turkey in 2023.