DIPLOMATIC ECONOMY

EBRD Sells Stake In Borsa Istanbul

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By Olga Rosca

The EBRD has sold its 10 per-cent stake in Borsa Istanbul. The Bank had been a shareholder in Turkey’s sole exchange since December 2015.

The EBRD remains committed to further supporting the development of Turkish capital markets.

Under its new five-year country strategy for Turkey, approved by the Bank’s Board of Directors earlier this year, the EBRD will continue to support – through investment and policy advice – an enabling environment for local currency-denominated financial products and the deepening of local capital markets.

The Bank will also support the introduction of alternative sources of finance and new fixed and floating rate instruments, such as Islamic instruments, debt funds, project bonds and securitisation.

It will continue backing initial public offerings, making pre-IPO investments and supporting companies post-listing.

The Bank also aims to expand access to venture capital in direct investment and through early-growth and infrastructure funds.

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