Treasury and Finance Minister Mehmet Şimşek makes statement on 'external funding'

Treasury and Finance Minister Mehmet Şimşek made an assessment regarding the flow of external funding to Turkey.

Şimşek stated that the amount of external funding provided to various sectors in Turkey by international organizations, government agencies, export credit agencies, and commercial creditors reached 8.8 billion dollars last year.

Şimşek said, "These resources are an indicator of the confidence in both Turkey and our program, which is based on the principles of transparency, consistency, accountability, and predictability."

Emphasizing that they continue to secure funding from external financial institutions for project financing for institutions in the country, Şimşek also stated that they are facilitating the reconstruction of the region with these resources to address the damages caused by the Kahramanmaraş-centered earthquakes.

Şimşek provided information that approximately 640 million dollars in funding was provided between December 19-22, 2023, to support businesses operating in the earthquake zone.

RESOURCES TO BE USED FOR THE EARTHQUAKE REGION

Minister Şimşek stated that in this context, the 100 million dollar financing provided by the Islamic Development Bank to the Industrial Development Bank of Turkey (TSKB) will be used to finance investments focused on revitalizing and strengthening economic activities in the provinces affected by the earthquakes.

Stating that the financing of 20 billion Japanese yen provided by the Japan International Cooperation Agency (JICA) will be utilized by the Small and Medium Enterprises Development Organization (KOSGEB), Şimşek expressed that this resource will be used to support the capital of micro, small, and medium-sized enterprises in the provinces affected by the earthquake.

Şimşek also drew attention to the fact that they secured 400 million dollars in financing from the Japan Bank for International Cooperation (JBIC), with 200 million dollars each for the Development and Investment Bank of Turkey (TKYB) and TSKB, and noted, "This resource will be used for the financing of investments in renewable energy, energy efficiency, water and waste management, as well as high-tech supported energy efficiency investments, focused on revitalizing and strengthening economic activities in our provinces affected by the earthquakes."

Stating that the funding provided to various sectors in the country by international organizations, government agencies, export credit agencies, and commercial creditors reached 8.8 billion dollars last year, Şimşek noted the following:

"2.8 billion dollars of this funding was provided for the development of the earthquake region. These resources are an indicator of the confidence in both Turkey and our program, which is based on the principles of transparency, consistency, accountability, and predictability."