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The EBRD will increase its investment in Turkey to support areas affected by earthquakes. This is reported by the Daily Sabah.

The European Bank for Reconstruction and Development (EBRD) will significantly increase investment in Turkey this year, having invested more than 1.6 billion euros ($1.7 billion) in the past.

The bank said it plans to invest up to 1.5 billion euros in the earthquake-hit region of Turkey in a package that includes credit lines, infrastructure investment and support for small and medium enterprises.

Jürgen Rigterinkthe EBRD’s first vice president, said the Bank wants to continue to help its clients not only in the earthquake-hit areas but also elsewhere, adding that it is important that it “helps SMEs right now in terms of liquidity, deferred payments, credit holidays.