1.9 billion dollar financing package for Turkey from the World Bank

Treasury and Finance Minister Şimşek signed loan agreements with the World Bank for 4 major projects focused on energy efficiency, flood and drought risk management, green transition, and the reconstruction of industrial sites in the earthquake-affected region. It was announced that these projects will be implemented by the Ministry of Environment, Urbanization and Climate Change, the Ministry of Agriculture and Forestry, and the Ministry of Industry and Technology.

With these projects, approximately 1.9 billion dollars in financing has been provided to Turkey from the World Bank. Thus, the amount of financing provided by the World Bank this year has reached 3.9 billion dollars.

WORLD BANK FINANCING HAS RISEN TO 35 BILLION DOLLARS

In his assessment to the press, Treasury and Finance Minister Şimşek stated that immediately after announcing the Medium-Term Program last year, the World Bank significantly increased the resources allocated to Turkey, adding another 18 billion dollars to the ongoing 17 billion dollar program to be provided within 3 years, bringing the total financing amount to 35 billion dollars.

Minister Şimşek made the following statement:

"The projects signed today strongly reaffirm the World Bank's confidence in the economic program we are implementing. The Bank's efforts to increase the total package are also continuing, and the projects to be implemented with the World Bank take into account our country's development priorities."

Meeting with World Bank Vice President Antonella Bassani on the first day of his US contacts, Şimşek also met with Asian Development Bank presidential candidate Masato Kanda, Pakistani Finance Minister Muhammad Aurangzeb, and Central Bank of Libya Governor Naji Issa.

News Source: 12punto