EIB issues record high loan to Turkey
Güncelleme Tarihi:
The European Investment Bank (EIB) granted 2.2 billion euros of loans which makes Turkey 7th country to borrow highest amount of money from the bank last year.
Total amount of loans given by the bank to Turkey between 2003 and 2007 reached 6.2 billion euros considering 1.8 billion euros issued in 2006. As the bank's short-term perspective, EIB projects to offer nearly 2 billion euros of loans to Turkey each year until 2013, said Matthias Kollatz-Ahnen, vice president of the bank.
"It is a significant amount to improve Turkey's infrastructure," Kollatz-Ahnen told the Anatolian Agency. Turkey has been the 7th country to borrow highest amount of money from the bank last year, following Spain, Germany, Italy, Britain, France and Poland, Kollatz-Ahnen said.
The bank will continue to support infrastructure investments, municipalities, modernization investments by the private sector and small & medium-sized enterprises through intermediary banks, he added. Kollatz-Ahnen said EIB signed an agreement with Turkish government to open two branches in Turkey, one in Istanbul and the other in Ankara. "EIB opens two branches in a country for the first time. It shows the importance we attach to Turkey," he added, according to the AA.
The European Investment Bank is the European Union's financing institution and was established in 1958 under the Treaty of Rome to provide financing for capital investment furthering European Union policy objectives. Outside the Union, the EIB contributes to European development co-operation policy in accordance with the terms and conditions laid down in the various agreements linking the Union to some 130 countries in Central, South and Eastern Europe, the Mediterranean region, Africa, Asia, Latin America, the Caribbean and the Pacific. Â