World Bank's contribution to Türkiye reaches $3.7B

By Deniz Cicek

With the approved loan of $600 million, the amount of financing provided by the World Bank for Türkiye in 2024 is close to $3.7 billion, said the Turkish Treasury and Finance Minister Mehmet Simsek.

The loan of $600 million to ensure the sustainability of economic activities in the region by building disaster-resistant and low-emission small industrial sites in the earthquake-ravaged region, he told Anadolu.

The World Bank had decided to increase its $17 billion support to Türkiye under the medium term program to $35 billion by adding another $18 billion, he also reminded.

“In addition, the amount of financing approved by the World Bank so far for projects in earthquake-affected provinces has reached approximately $2 billion.

“This financing is an indication of the World Bank's confidence in our country and our economic program,” he emphasized.

Simsek also stated that the government continues to cooperate with the World Bank on projects in the disaster area to revive the regional industry, which made a significant contribution to the economy before the earthquake, and to strengthen employment.

*Writing by Sahika Malkoc from Istanbul