REGIONAL DEVELOPMENT AND INVESTMENT BANKS
European Investment Bank (EIB) is EU’s long term financing institution for public and private organizations to sustain their investments. Found in 1958, the bank belongs to EU member states.
The bank has provided more than $818 billion to support project in EU member, candidate and partner states (EIB, 2011). The bank is a non-profit organization, primarily aiming to finance lasting projects(DEIK, 2011a).Objectives and subsidy policies of European Investment Bank can be names as follows (EIB 2011): supporting investment plans of SMEs; eliminating economic and social inequalities between regions, supporting environmental protection and sustainable environmental policies, fight against the adverse effects of climate change, support for the initiatives of sustainable and safe energy, and support for the creation of the transportation, energy, and communication networks in the Union.
Apart from countries in the Union, the Bank supports various projects from more than 150
Table 2. World Bank’s data on Turkey
| Active Projects | Amount Million $ |
| Energy | |
| Electricity Distribution and Rehabilitation Project | 269,4 |
| Energy Community of South East Europe (ECSEE)-APL#2 | 66 |
| Energy Community of South East Europe (ECSEE)-APL#3 | 150 |
| Energy Community of South East Europe (ECSEE)-APL#6 | 241 |
| Gas Sector Development Project | 325 |
| Private Sector Renewable Energy and Energy Efficiency Project | 500 |
| Urban Development | |
| Istanbul Municipal Infrastructure Project | 322,2 |
| Istanbul Seismic Risk Mitigation and Emergency Preparedness Project | 400 |
| Land Registry and Cadastre Project | 203 |
| Municipal Services Project | 275 |
| Private and Sector Development | |
| Access to Finance for SMEs | 696,9 |
| Second Access to Finance for SMEs | 500 |
| Fourth Export Finance Intermediary Loan | 600 |
| Transportation | |
| Railways Restructuring Project | 184,7 |
| Education | |
| Secondary Education Project (SEP) | 104 |
| Health | |
| Health Transformation and Social Security Reform Project | 75,1 |
| Agriculture and Rural Development | |
| Avian Influenza and Human Pandemic Preparedness and Response Project | 34,4 |
| Environmental | |
| Anatolia Watershed Rehabilitation Project | 15,7 |
| Watershed Rehabilitation Project | 7 |
| Totol | 4969,4 |
Source: (WB, 2013)
countries. Financing mainly the projects inside the EU, the institution reserved % 88 of the total 72 billion euro of its funding sources for projects inside the EU during 2010 (EIB 2011).
Asian Development Bank (ADB) is an international financing institution that aims to increase life standards of its member developing countries and reduce poverty. Founded in 1966, the bank has 67 members. While 48 members are regional countries, 19 of them are at a distance. Asian Development Bank primarily supports projects of states, private sectors, non-governmental organizations, and development agencies. The strategy of the bank is based on real growth, environmentally sustainable growth, and ensuring regional integration (ADB, 2011).
Islamic Development Bank (IDB) was founded in 1974. The bank has 56 members. In accordance with Islamic philosophy and principles (sharia), the bank aims contributing to the economic development and social progress of member states and Muslim societies(IDB, 2011). The bank’s functions are as follows: contributing to the capital of organizations or efficient projects in member countries, opening credits to public and private sectors projects, supporting progress in trade and technical collaboration, contributing to actions of development, doing research on how to conduct financial and banking activities in accordance with Islamic rules (IDB 2011). Types of financing that the B ank undertakes include loan without interest, participating equity capital, leasing, and dividend.
Areas of priority are as follows: humanitarian and agricultural development, food sufficiency, developing infrastructure, trade among members, development of private sector, Islamic economy, research, development and re-organization of banking and finance (Bacak, 2007: 75).
African Development Bank (AFDB) is a multilateral development bank. Founded in 1964, the bank has 77 members. %53 of these members are African countries, %24 is from the Americas, Asia, and Europe. The Bank’s primary target is to fight poverty, and to increase the economic and social welfare of the peoples. Besides these targets, the banks aims to improve regional welfare through technical support, participating in equity capital, and credits (DEIK, 2011b).