Turkey To Become Full Member Of European Bank

LONDON/ANKARA - Board of Directors of the Bank for Reconstruction and Development (EBRD) will discuss Turkey's application to become a full member this week.
Turkey's formal application is expected to be approved "in principle", however the final approval process will take place 2-3 months later.
Following the approval of the full membership, Turkey will be included among the active members of the Bank and thus a new finance opportunity will appear for the private sector.
EBRD plans to gradually shift its investment from Central Europe and give priority to investments in Turkey in the next period and is expected to announce Turkey as the main target of its enlargement strategy.
The bank is also thought to assist Turkey's integration with the European Union (EU).
The bank, within the framework of strategy for priority to Turkey, will call on foreign investors to invest in banking, tourism, SMSEs, media, infrastructure investments, energy, real estate, health and information communication technologies, as well as agriculture and food areas.

(AY)