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IFC Plans as Much as $2 Billion Investment in Turkey by 2015

International Finance Corp., the World Bank’s private-sector investment arm, plans to invest between $1.7 billion and $2 billion in Turkey between 2012 and 2015, its fourth largest commitment in the world, under its country partnership strategy.

The Washington-based lender committed $173 million in its fiscal year 2013, which started in July, for projects including film manufacturer Superfilm, textile producer Sanko Tekstil, construction materials maker Izoduo, and infrastructure lending of $400 million for renewable energy and gas generation projects, Dimitris Tsitsiragos, vice president for Europe, Middle East and North Africa, said at a news conference in Istanbul today. The lender also provided $20 million to Mediterra Capital Management Ltd., a buyout firm based in Istanbul, for its debut fund of about $195 million, he said.