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Turkey debate: Turkey works to bridge its funding gap

Turkey’s economy is growing fast and the country has a large number of infrastructure projects in the pipeline. But with its corporates also on the hunt for more funding, the country’s banks cannot meet all the demand themselves.

Turkey works to bridge its funding gap

Executive summary

• Turkey has a fast growing economy with many funding needs

• Foreign investment must be encouraged

• Centralized, more streamlined, approval process required for PPPs

• Infrastructure needs are substantial. The number of projects in need of finance points to a potential funding gap

• Turkey remains a very attractive investment opportunity over the next 10 years

Turkey debate: Participants

Elliot Wilson, Euromoney How can we close the gap between Turkey’s aspirations – the amount of money that needs to be raised to build the country – and the reality, which sees capital raising constrained by issues including underdeveloped capital markets and legal uncertainty over concessions?

Alper Hakan Yüksel (AY) is executive vice-president of corporate banking at Akbank
AY, Akbank Turkey’s infrastructure needs funding, but it’s easy to forget that this is a fast-growing economy with many funding needs. Turkish corporates’ funding needs are growing, and that requires financing.

There’s a lot of privatization going on as well in infrastructure, creating some overlap in the demand for funding in areas like energy, transport and other sectors.

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