Mehmet Şimşek announces: $7.7 billion in external financing for Turkey in 2024

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

Emphasizing that they are strongly feeling the results of cooperation with international organizations in accessing external financing, Şimşek said, "We continue to provide concessional, long-term external financing for our development-oriented projects. In this context, approximately $1.2 billion in external financing for Turkey was approved by the World Bank this month."

Şimşek also provided information regarding the projects for which the financing in question will be used.

Minister Şimşek stated that approximately $660 million in resources will be provided within the scope of the Eastern Turkey Middle Corridor Railway Development Project, which will be implemented by the Ministry of Transport and Infrastructure.

Stating that the approximately $250 million Public Health Emergency Preparedness Project, to be implemented by the Ministry of Health, will also be carried out, Şimşek reported that approximately $250 million in external resources will be used for the financing of the Project for the Improvement of the Agricultural Sector in the Earthquake Zone in Turkey, which will be implemented by the Ministry of Agriculture and Forestry.

Pointing out that Turkey's partnership with the World Bank continues strongly, Şimşek commented, "The financing in question will be used to accelerate the decarbonization of the transport sector, increase the use of rail freight transport, strengthen preparedness for health emergencies, and improve resilience in the agri-food sector."

$5 BILLION IN FINANCING FROM THE WORLD BANK IN 2024

Stating that the amount of financing provided from World Bank resources for Turkey's development-oriented projects will reach $5 billion this year, Şimşek noted the following:

"Together with the World Bank, the amount of concessional external financing provided by other creditors this year has reached $7.7 billion. We expect this amount to increase by the end of the year. Our efforts to provide concessional external financing to our country will continue with the confidence placed in Turkey's economy and our program."

News Source: AA