EBRD 2024-2029 Strategic Plan for Türkiye

The European Bank for Reconstruction and Development (EBRD) is a financial institution established in 1990 to support economic development in emerging countries and accelerate their transition to market economies. Since commencing operations in Türkiye, EBRD has undertaken 246 projects and invested over 20 billion Euros. Recently, the EBRD published its strategic plan for Türkiye for the 2024-2029 period, outlining the key objectives they have determined with an aim to foster economic growth across different sectors.

The primary goals of the 2024-2029 Strategic Plan for Türkiye are to enhance the resilience of the financial sector, promote the green economic transition, and strengthen regional energy connectivity over the next five years. The plan identifies six overarching pillars for economic transformation: competitiveness, good governance, green transition, resilience, integration, and inclusiveness.

1. In alignment with its green transition objectives, the EBRD emphasizes the need to increase the integration of renewable energy, improve energy and resource efficiency, and take concrete steps toward achieving net-zero carbon emissions. To implement these projects, EBRD has planed to cooperate with the International Finance Corporation (IFC) and the Asian Infrastructure Investment Bank (AIIB). 
2. Regarding competitiveness, the strategy mentions supporting private sector institutions, strengthening corporate governance, and enabling small and medium-sized enterprises (SMEs) to adapt to change. As part of these objectives, it is planned to establish capital funds for early-stage SME companies and to collaborate with the IFC. 
3. The key objectives set by EBRD under the integration category include improving the infrastructure of transportation and trade networks, increasing the quality of digital infrastructure and services, and strengthening resilience to natural disasters. In line with these goals, the action plan foresees supporting public infrastructure projects and forming partnerships with the International Finance Corporation (IFC) to provide financing for regions affected by earthquakes.
4. Under the category of resilience, the aim of the EBRD is to increase access to long-term financing and restore investor confidence. In the long term, the aim is to support financial institutions in Türkiye and facilitate the transition to a more comprehensive financial system.
5. Under the category of good governance, the focus is on strengthening democracy and increasing civil society participation in decision-making processes to make public services more transparent and efficient.
6. Under inclusivity, the plan aims to reduce regional disparities in access to finance and services, increase women’s financial participation, and reduce the high unemployment rates among youth. Cooperation with the United Nations Development Programme (UNDP) is foreseen for these initiatives.

From a broad perspective, the 2024-2029 Türkiye Strategic Plan serves as a comprehensive roadmap aimed at contributing to Turkey’s economic, environmental, and social development. In alignment with the six core objectives outlined above, the EBRD has developed an integrated investment plan encompassing international partnerships and strategic projects. This strategy stands as a key initiative designed to advance sustainable development goals in Türkiye and support its socio-economic progress.

For more information: https://www.ebrd.com/documents/strategy-and-policy-coordination/turkiye-draft-country-strategy.pdf