Last year, the European Bank for Reconstruction and Development invested a record eleven billion euros

Last year, the European Bank for Reconstruction and Development invested a record eleven billion euros

The European Bank for Reconstruction and Development (EBRD) invested a record € 11 billion last year. It has responded to the new coronavirus pandemic that has affected economic activity around the world, including the 38 countries in which the EBRD operates. The volume of investments in 2020 represents a growth of 10% compared to the previous year, the EBRD added. In 2019, the bank's investments reached 10.1 billion euros, supporting 452 projects that year. In 2020, the EBRD invested in a total of 411 projects. As the bank reported in its annual report on Thursday, Turkey took first place in the ranking of the largest beneficiaries in 2020, replacing Egypt in this position. According to EBRD Vice President Jürgen Rigterink, the bank invested almost 1.7 billion euros in Turkey last year. That is about 700 million euros more than in 2019. In 2020, the bank invested approximately 1.41 billion euros in Central Europe and the Baltic States. In the previous year, the volume of investments in this region amounted to 1.47 billion euros. According to Rigterink, the EBRD recorded a modest profit last year, about 100 million euros. In 2019, its profit reached 1.4 billion euros. The full financial results will be published by the EBRD in the coming weeks.