OREANDA-NEWS. A top-level European Investment Bank Group delegation, led by EIB Vice-President Pim van Ballekom, is in Ankara today and tomorrow for talks with Turkish Government representatives. The discussions are intended to further strengthen and broaden the scope of EIB Group financing in Turkey.

Vice-President van Ballekom met with Mr Mehmet Şimşek, Deputy Prime Minister, Ms Fatma Güldemet Sarı, Minister of the Environment and Urbanisation, and Mr Cavit Dağdaş, Acting Treasury Undersecretary.

During the visit, Vice-President van Ballekom presented the EIB’s activities and annual figures for Turkey in 2015. In 2015, EIB Group financing in Turkey amounted to EUR 2.3bn, a 12% increase over the previous year. In order to promote innovation and economic growth in the country, the EIB maintained its strong support for SMEs, which accounted for 56% of total financing (EUR 1.3bn). EIB loans also supported other crucial sectors of the Turkish economy such as research and development, industry, transport and climate action. Infrastructure projects financed under the EIB facilities will benefit from technical assistance for project preparation and implementation funded by the EU.

In addition, a new EUR 100m loan for small and medium-sized companies (SMEs) was signed with Türkiye Sınai Kalkınma Bankasi (TSKB).

EIB Vice-President Pim van Ballekom said: “The EIB is one of the largest international investors in Turkey. In 2015, we increased our financing, supporting investments in all the main productive sectors. I am particularly proud of the range and quality of the projects financed: SMEs, urban transport, research and development, investments mitigating climate change, all of which are essential for the process of modernising the country. This two-day visit provides an opportunity to reaffirm the excellent cooperation between the EU bank and the Turkish authorities in charge of various economic fields”.

Since 2010, the bank of the European Union has financed nearly 130 projects in Turkey, corresponding to  a total investment of EUR 12.8bn and making a significant contribution to job creation and infrastructure modernisation.