The large bank will open a branch in Turkey.

The large bank will open a branch in Turkey.

28.01.2025 11:22

When the Asian Development Bank (ADB) decided to start operations in Turkey, the public and private sectors will be able to utilize long-term and advantageous financing opportunities in various areas such as infrastructure, environment, education, finance, and energy.

In a statement made by the Ministry of Treasury and Finance, it was reported that Turkey transitioned from "non-regional member" status to "regional member" status in the Asian Development Bank (ADB) on December 12, 2024, following a decision by the Board of Governors, of which Turkey has been a member since 1991.

It was emphasized in the statement that this change in status, which is a first in the bank's 59-year history, was implemented through Turkey's intensive efforts. "This process was successfully completed in just 4.5 months with broad support, thanks to the strong dialogue established with member countries and the confidence in our economic program. In line with this decision, ADB will begin its activities in our country. Thus, our public and private sectors will benefit from the bank's long-term and advantageous financing opportunities in various areas such as infrastructure, environment, education, finance, and energy," the statement said.

VISIT TO TURKEY BY ADB DELEGATION

The statement noted that a delegation consisting of ADB officials visited Turkey to meet with representatives from the public and private sectors to determine their activities here. It was stated that the delegation also met with the Minister of Treasury and Finance, Mehmet Şimşek, today. The statement recorded the following: During the meeting, our Minister shared information about our country's sectoral priorities and the policies being pursued within the framework of the Medium-Term Program, while the delegation presented the general framework of ADB's future work program for our country. Thanks to the strong relationships established by our ministry with multilateral development banks and effective project financing management, our country has become a preferred development partner, and our active portfolio size in these institutions has reached 35 billion dollars. This success is an important indicator of the confidence in our economic program.

Asian Development Bank Starts Operations in Turkey

Moreover, according to information obtained from the Ministry, ADB operates as an international financial institution with 69 members, headquartered in Manila. The bank's total registered capital is 142.7 billion dollars, while its paid-in capital is recorded as 7.1 billion dollars. Turkey's registered capital in the bank amounts to 480.7 million dollars, which corresponds to 0.56% voting power.

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