EBRD-backed EDEF determines Turkey as primary market for technology start-ups.

By bne IntelliNews June 7, 2013

The European Bank for Reconstruction and Development (EBRD) announced that it is considering an equity investment up to USD 30mn in Luxembourg-based private equity investment fund Earlybird Digital East Fund (EDEF). EDEF will use the facility for equity and equity-related investments in early-stage and expansion-stage technology companies primarily in Turkey but also in Bulgaria, Hungary, Slovakia, Slovenia, Poland, Romania, Albania, Bosnia-Herzegovina, Croatia, Kosovo, Macedonia, Montenegro, Serbia, Estonia, Latvia, Lithuania, Ukraine, Moldova and Jordan.

Earlier this month, the EBRD announced that it was considering a EUR 60mn financing facility for the Turkish private lender Sekerbank. Socar’s Vice President Suleiman Gasymov also announced that the EBRD was among the candidates those already expressed interest in providing financing for its USD 3.46bn worth Star Refinery investment in Turkey.

The EBRD has invested a total of EUR 2.5bn in Turkey since the beginning of its operations in the country in 2009. Last year, the EBRD invested a total of EUR 1bn and Turkey was the EBRD’s second largest country of operations in 2012.

EBRD's work in Turkey
Number of projects signed 78
Net Business volume EUR 2.6bn
Total project value EUR 8.1bn
Cumulative disbursements EUR 2.2bn
Portfolio in private sector 96%
Sector breakdown of projects*
Industry Commerce & Agribusiness 18%
Energy 17%
Financial Institutions 45%
Infrastructure 19%
Source: EBRD, *As of March 2013  
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Erdogan says he plans talks with lenders on cutting Turkish interest rates

Turkey's President Recep Tayyip Erdogan said on October 13 that he plans to hold talks with both public and private lenders on how to lower interest rates. He did not say, however, when those ... more

Turkey's Erdogan turns fire on US ambassador in diplomatic spat over arrest

Turkish President Recep Tayyip Erdogan has turned his fire on the US ambassador to Turkey for the ... more

Turkey-based Eurasian development bank ETDB signs memo to boost return to Iran

The Central Bank of Iran (CBI) and the Turkey-based ECO Trade and Development Bank (ETDB) have signed a memorandum on strengthening bilateral ties, the CBI said on October 10. ETDB is a Eurasian ... more

Most Read

  1. INTERVIEW: de Villepin says Ukraine should declare itself neutral
    8 days ago
  2. INTERVIEW: The quiet thunder of Ruben Vardanian
    8 days ago
  3. Moldova's Ascom moves ahead with recovering $500mn from Kazakh state
    7 days ago
  4. KRUK REPORT: Is Ukraine changing its Donbas policies?
    3 days ago
  5. MOSCOW BLOG: Russia’s import substitution has not been a great success
    6 days ago
  1. STOLYPIN: Russia balances wargames with mindgames in Zapad exercises
    26 days ago
  2. Russia to bring in record breaking harvest of 127mn tonnes
    18 days ago
  3. Investors ask which Russian bank domino will be the next to topple
    24 days ago
  4. Eastern Europe’s blockchain revolution
    11 days ago
  5. INTERVIEW: de Villepin says Ukraine should declare itself neutral
    8 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss