Turkey’s banks in equity market rally
ETFs blossom amid equity rally
Although Turkey’s long-awaited standby agreement with the IMF has yet to be signed, another leading international financial institution has begun to operate in Turkey and is providing a welcome source of additional financing. In mid-May the European Bank for Reconstruction and Development announced that it was lending €45 million to help finance the construction of the largest windfarm in the country.
The project is the first to be signed since Turkey became an EBRD country of operations in September 2008 and is the initial deal in a series of investments that are set to total €450 million by the end of 2010.
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