Until 2010, EBRD will cut its financial support to the 8 former Eastern Block countries which have become EU member states in 2004, sources said. The bank, known as the "World Bank" of Europe, plans to intensify its activities and investments in Turkey after such date. According to officials, EBRD will hold an annual meeting in Ukrainian capital of Kiev in May during which it will announce its expansion strategy for the next 4 years. Turkey will be the main target of such strategy, sources said. Meanwhile, during the talks to be held with Finance Ministers of EU member countries next week, EBRD officials are expected to reveal their plans aiming to include Turkey in the bank's scope of operations. While some EU members express their support regarding Turkey's benefiting from EBRD's financial and other operations, USA supports such cooperation as well. The bank is expected to encourage foreign entrepreneurs to invest in the banking, tourism, media, energy, real estate, health, IT, agriculture and foodstuff sectors of Turkey and to participate in projects related to SMEs and infrastructure in the country. Officials say the bank will also support projects aiming to facilitate Turkey's EU adhesion process. Source: thenewanatolian.com
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