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Investment and Development Banks and Strategies in Turkey

Investment and Development Banks and Strategies in Turkey

Ismail Erkan Celik (Beykent University, Turkey), Hasan Dinçer (Beykent University, Turkey), and Ümit Hacioğlu (Beykent University, Turkey)
Copyright: © 2014 |Pages: 10
DOI: 10.4018/978-1-4666-4639-1.ch010
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Abstract

The World Bank is the most important financier for international investment. The bank opens credits mostly for investment projects in developing countries. Turkey has received various investment credits since its membership to the World Bank on March 11, 1947. The credits were used for economic and social domains. Turkey has also been granted credits from the European Investment Bank (EIB). The credits received are composed of micro credits that belong to Small and Medium Enterprises (SMEs). A regional development bank, Islamic Development Bank, has also received credits through Eximbank and Industrial Development Bank of Turkey (TSKB) to finance Turkish SMEs. This chapter deals with Turkish investment strategies in the framework of basic principles of investment – development banks.
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The World Bank And Its Strategies In Turkey

Turkey has become a member of the World Bank on March 11, 1947. Since its membership, Turkey has benefited from various credits of the World Bank. Depending of their capital share in the Bank, members have varying voting rates. Below in Table 1, capital shares and voting rates of ten member countries are listed. As one can see in the table, the biggest capital share and the voting rate belong to USA. Developed economies such as Japan, Germany, France, and UK follow USA. Turkey’s share in World Bank’s total capital amounts to % 0,53. This makes up $832.8 million (WB, 2010).

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