ANKARA - Philippe Maystadt, President of European Investment Bank (EIB) said on Thursday that EIB followed the incredible developments in Turkey regarding its EU bid and EIB believed that those positive developments would continue in Turkey.
The agreements regarding EIB's providing a loan worth of 250 million EURO in support of the private sector and in particular small and medium scale enterprises (SMSEs) were signed at Treasury Undersecretariat the same day.
Addressing the ceremony, Maystadt said that Turkey's position in EIB was changed, it was taken out from the Mediterranean countries group and included in the Southeast European countries department. He said this meant the activities of EIB in Turkey would further increase.
Maystadt stressed that the loan would contribute significantly to small and medium scale enterprises, and also to economic and social capacity of Turkey.
State Minister Ali Babacan said in his part that the first loan agreement was signed the same day within the scope of the financial programme that would be carried out with EIB between 2004-2006.
Babacan said that the loan would be distributed through Industrial Development Bank of Turkey (TSKB), Turkiye Vakiflar Bankasi (Vakifbank), the Development Bank of Turkey (TKB), Turkiye Halk Bankasi and TC Ziraat Bankasi.
Babacan stressed that the position of Turkey in EIB changed positively, noting that Turkey was included in Southeast European countries department to be valid as of May 1, 2004. He added that Turkey was not connected anymore to EIB's directorate general for non-EU credits, but instead to directorate general for EU credits which would be valid as of April 1.
(Öª) 04.03.2004