Capital ratio constraints have kept foreign banks out of the Turkish infrastructure boom since 2008 for anything other than ECA or multilateral guaranteed projects. But the Turkish government is making great efforts to pull them back in and diversify the country’s infrastructure funding options for what is a vastly ambitious investment programme designed to double Turkey’s $820 billion economy in the next decade.
Some international project lenders still have a footprint in Turkey. UniCredit owns 50% of Yapi Kredi and maintains a presence in its own right.
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