Minister Mehmet Şimşek announces the amount of financing provided to Turkey

Minister of Treasury and Finance Mehmet Şimşek made an assessment regarding the cooperation efforts being carried out with the World Bank.

Reminding that the World Bank decided to increase the amount of resources transferred to Turkey following the announcement of the Medium-Term Program last year by adding another 18 billion dollars to the ongoing 17 billion dollar program, bringing the total to 35 billion dollars, Şimşek reported that the Country Partnership Framework Program for Turkey was also discussed and put into effect by the Bank's Board of Executive Directors some time ago.

'600 MILLION DOLLAR LOAN APPROVED'

Providing information regarding the new financing to be provided by the Bank, Şimşek said, "The World Bank has approved a 600 million dollar loan to be used for the reconstruction of small industrial sites affected by the February 6 earthquakes and for the continuation of business operations in the region. This loan will be used to finance the Turkey Small Industrial Sites Reconstruction and Regional Economic Recovery Project, which will be implemented by the Ministry of Industry and Technology."

Şimşek stated that this loan will be used to ensure the continuity and sustainability of micro, small, and medium-sized enterprises in the region by constructing disaster-resilient and low-emission small industrial sites by the Ministry of Industry and Technology in areas accepted as disaster zones following the earthquake.

'FINANCING AMOUNT APPROACHED 3.7 BILLION DOLLARS'

Pointing to the importance of the cooperation they maintain with the World Bank, Şimşek said, "With this loan, the total financing approved by the World Bank for our country in 2024 has approached 3.7 billion dollars. Furthermore, the total financing approved by the World Bank to date for projects aimed at provinces affected by the earthquakes has reached approximately 2 billion dollars. This financing is also an indicator of the World Bank's confidence in our country and our economic program."

Şimşek stated that they continue to maintain their cooperation with the World Bank through projects aimed at the disaster region in line with the government's goals of reviving the regional industry, which made a significant contribution to the economy before the earthquake, and strengthening employment.