The World Bank has approved new external financing for Turkey.

The Minister of Treasury and Finance, Mehmet Şimşek, stated that the World Bank approved approximately 1.2 billion dollars of external financing for Turkey this month, saying, "Together with the World Bank, the amount of concessional external financing obtained from other creditors this year has reached 7.7 billion dollars. We expect this amount to increase by the end of the year."

FINANCING AMOUNT OF THIS MONTH: 1.2 BILLION DOLLARS

Minister Şimşek evaluated the flow of external resources to Turkey. Emphasizing that they strongly feel 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 dollars of external financing was approved for Turkey by the World Bank this month."

INNOVATIVE PROJECTS FROM TRANSPORTATION TO HEALTH

Minister Şimşek stated that approximately 660 million dollars of resources will be provided for the Eastern Turkey Medium Corridor Railway Development Project, which will be implemented by the Ministry of Transport and Infrastructure. He also mentioned that the approximately 250 million dollar project for Increasing Preparedness for Emergencies in Public Health Services, which will be implemented by the Ministry of Health, will also be carried out, and that approximately 250 million dollars of external resources will be used for the financing of the project for Improving the Agricultural Sector in the Earthquake Region in Turkey, which will be implemented by the Ministry of Agriculture and Forestry.

Şimşek drew attention to the strong continuation of Turkey's partnership with the World Bank, stating, "The mentioned financing will be used to accelerate the decarbonization of the transportation sector, increase the use of railway freight transportation, strengthen preparedness for health emergencies, and enhance resilience in the agricultural food sector."

5 BILLION DOLLARS OF 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 dollars this year, Şimşek noted: "Together with the World Bank, the amount of concessional external financing obtained from other creditors this year has reached 7.7 billion dollars. We expect this amount to increase by the end of the year. With the confidence in Turkey's economy and our program, our efforts to provide concessional external financing to our country will continue."