The European Bank for Reconstruction and Development (EBRD) is strengthening its commitment to Türkiye’s tourism sector through a €25 million loan to Bartu Turizm Yatirimlari, a joint venture between German travel giant TUI Group and Akra Hotels. This initiative aims to support human capital development, expand employment opportunities, and enhance infrastructure in Antalya, which has become a significant host city for people displaced by recent earthquakes.
Expanding Opportunities for Displaced Communities
Türkiye’s devastating earthquakes have displaced over 3 million individuals, with more than 150,000 settling in Antalya—the second-largest host city after Ankara. The EBRD financing will allow Bartu Turizm to develop staff accommodation, addressing a critical housing shortage in the area while tailoring its training programs to meet the specific needs of displaced workers.
Bartu Turizm, which operates four coastal hotels under the Akra brand with a total capacity of 1,272 rooms, has previously received financial backing from the EBRD during the Covid-19 pandemic. This demonstrated the bank’s continued support for Türkiye’s tourism industry during periods of economic uncertainty.
Commitment to Sustainable Growth
EBRD Director of Real Estate Vlaho Kojakovic stated, “We are proud to continue supporting Türkiye’s dynamic tourism sector—one of the country’s key economic drivers. Our partnership with Bartu Turizm demonstrates our commitment to sustainable and inclusive projects that expand opportunities for communities across the region.”
Bartu Turizm CFO Ilker Orgun echoed this sentiment, highlighting the company’s investment in cultural and artistic engagement through events such as the Akra Jazz Festival, Akra Meze Festival, and the internationally recognized Tour of Antalya cycling race. He also noted Bartu Turizm’s upcoming high-standard coastal property in Didim, scheduled to open in 2026, as part of the company’s long-term vision for sustainable tourism.
EBRD’s Broader Role in Türkiye
The EBRD remains a key investor in Türkiye, having committed nearly €22 billion to 484 projects since 2009, primarily in the private sector. This latest loan reinforces the bank’s dedication to fostering resilient and inclusive economic development in Türkiye’s tourism industry.
