Turkey: World Bank Welcomes EU Commission Report On Turkey And Pledges To Assist On Accession Matters

Tcelasin@worldbank.org
In Washington-- Miriam Van Dyck: 1-202- 458 2931

Mvandyck@worldbank.org

Ankara, October 6^th, 2004— The World Bank welcomes the positive report and recommendation issued by the European Commission today, concerning Turkey's accession to the EU. While a final decision on starting negotiations will only be made in December, the World Bank Country Assistance Strategy for Turkey for 2004-2006 contains a number of areas of support to Turkey's accession process. As a result of the Commission's report, the Bank will accelerate several of these activities, including a detailed analysis of the impact of accession on Turkey's economy. In addition, the Bank is taking further steps to align its program to assist Turkey prepare for accession, through support to areas like building capacity to meet EU standards and absorb EU funding during the negotiation process.

"The issuance of the Commission's report is an important milestone for Turkey and the Turkish economy. While much work and a number of years lie ahead for Turkey to meet the economic criteria for EU membership, the accession process has the potential in Turkey, as it did in the ten EU members which joined on May 1, to positively affect the economy as well as increase investor confidence as harmonization reforms continue. The World Bank stands ready to assist Turkey in this important process towards integration with Europe" said Andrew Vorkink, Country Director for Turkey at the Bank.