The World Bank will provide $1.9 billion in financing for 4 projects in Turkey.

The Minister of Treasury and Finance, Minister Şimşek, participated in a series of meetings and held bilateral discussions on the first day of his contacts in the USA for the G20 and World Bank meetings. With Şimşek's participation, a loan agreement was signed for 4 important projects with the World Bank aimed at energy efficiency, flood and drought risk management, green transition, and the reconstruction of industrial sites in the earthquake-affected region.

The mentioned projects will be implemented by the Ministries of Environment, Urbanization and Climate Change, Agriculture and Forestry, and Industry and Technology. The projects aim to increase energy efficiency in public buildings, strengthen resilience against disasters, support groups that may be adversely affected by the green transition, and ensure the sustainability of the activities of micro, small, and medium-sized enterprises in the earthquake-affected region.

TOTAL FINANCING AMOUNT 3.9 BILLION DOLLARS

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

In his assessment, Minister of Treasury and Finance Şimşek recalled that 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 expected to be provided within 3 years, bringing the total financing amount to 35 billion dollars. He stated, "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 ongoing, and the projects to be implemented with the World Bank take into account our country's development priorities."

On the first day of his contacts in the USA, Şimşek met with World Bank Vice President Antonella Bassani, as well as with Asian Development Bank presidential candidate Masato Kanda, Pakistan's Finance Minister Muhammad Aurangzeb, and the Governor of the Central Bank of Libya, Naji Issa.