The two agreements, signed during the European Investment Banks annual regional forum on measures to achieve smart growth in Turkey, are as follows:
1. A EUR 450 million loan for research and innovation capacity in Turkey
The EIB funds, channelled through the Turkish Undersecretariat of Treasury, will co-finance the Turkey’s national contribution to the science and technology programmes implemented by the Scientific and Technological Research Council (TBITAK). The aim is to promote the integration of the Turkish Research Area into the common European Research Area. The science and technology programmes have a national reach and are mainly located in the country’s major urban centres. The programmes will be implemented in 2010 and 2011.
2. A Memorandum of Understanding for EUR 150 million for small and medium-sized municipal environmental schemes
The MoU is a formal expression of cooperation between the EIB and Iller Bank. The lending agreement will be signed at a later stage. The EIB funds will finance investment schemes in the water and solid waste sector throughout Turkey, with Iller Bank as an intermediary providing both financial and technic al services to municipalities. The project will co-finance schemes benefiting from IPA grants and potentially World Bank loans. The operation will be an important instrument in advancing Turkeys adherence to the environmental standards and policies of the European Union.
EIB Vice-President Matthias Kollatz-Ahnen signed the agreements in support of R&D with MrCabit Dada, Deputy Undersecretary of Treasury, and in support of environmental investments at municipal level with Mr Hidayet Atasoy, General Director of Iller Bank.
It is a great pleasure for me to put into practice, within just a few hours, initiatives from todays forum on how to achieve smart growth in Turkey, said Mr Kollatz-Ahnen. “The foundations for such growth have been identified: innovation and infrastructure, and with these agreements today, we have made a decisive step in this direction.
The EIB event served as a forum for exchanging best practices and discussions on potential joint initiatives aimed at maximising sustainable growth potential in Turkey.