Turkey approved to become full member of European Bank for Reconstruction and Development
Turkey's formal application to be included in the European Bank for Reconstruction and Development’s line-up of investment countries has been approved in principle by the board of governors. The final approval process will take place 2-3 months later and following the approval of full membership, Turkey will be included among the active members of the Bank and a new finance opportunity will emerge for the private sector. The Bank plans to gradually shift its investment from Central Europe giving priority to investments in Turkey and is expected to announce Turkey as the main target of its enlargement strategy. Inclusion as one of the investment countries is also thought to assist Turkey's integration with the European Union.