The European Bank for Reconstruction and Development (EBRD) has announced the opening of its third office in Turkey to better serve regional SMEs looking to export.
Through the office, the bank will focus on providing long-term financing to local companies in the country’s eastern regions as well as managerial support, further developing Turkey’s export capacity.
At the official opening, first vice-president at the EBRD, Phil Bennett, said: “We are opening an office in Gaziantep to accelerate investment in the regions of Turkey. It will serve micro, small and medium-sized enterprises in the region, which are a priority both for the EBRD and for the Turkish government.”
Located in the south-eastern city of Gaziantep, it is hoped that the EBRD’s new office will extend its business relationships beyond Turkey’s large metropolitan centres in Ankara and Istanbul. Gaziantep’s growing industrial base and important agribusiness sector account for over 4% of Turkey’s total exports.
The EBRD’s Turkish portfolio is now one of the bank’s largest. Since 2009, the EBRD has invested over €3.8bn in the country across 124 projects in infrastructure, energy, agribusiness and finance.