Minister Simsek stated that last year the amount of foreign financing provided to various sectors in Turkiye from international organizations, government organizations, export credit agencies and commercial creditors reached $8.8 billion.
Minister of Treasury and Finance Mehmet Simsek made an evaluation regarding the foreign resource flow to Turkiye.
Emphasizing that they continue to provide resources from external financing institutions to the institutions in the country within the scope of project financing, Simsek said that they also mediated the reconstruction of the region with these resources in order to eliminate the damages caused by the earthquakes centered in Kahramanmaras.
Simsek informed that approximately $640 million were provided to support businesses operating in the earthquake zone between 19-22 December 2023.
“It will be used for economic activities in the earthquake zone”
Minister Simsek said that in this context, the $100 million financing provided from the Islamic Development Bank to the Turkish Industrial Development Bank (TSKB) will be used to finance investments focused on revitalizing and strengthening economic activities in the provinces affected by earthquakes.
Simsek stated that the financing of 20 billion Japanese yen provided by the Japan International Cooperation Agency (JICA) will be used by the Small and Medium Enterprises Development and Support Administration (KOSGEB). He stated that this resource will be used to support the capital of micro, small and medium-sized enterprises in the provinces affected by the earthquake.
Simsek also pointed out that they provided $400 million of financing from the Japan Bank for International Cooperation (JBIC) to Turkiye Development and Investment Bank (TKYB) and TSKB, $200 million each. “This resource will be used to finance renewable energy, energy efficiency, water and waste management investments and advanced technology-supported energy efficiency investments, focused on revitalizing and strengthening economic activities in our provinces affected by earthquakes.”
Stating that the resources provided to various sectors in the country last year from international organizations, government organizations, export credit agencies and commercial creditors reached $8.8 billion, Simsek said:
“$2.8 billion of this resource was provided for the development of the earthquake zone. These resources provided are an indication of the trust in both Turkiye and our program, which is based on the principles of transparency, consistency, accountability and predictability.”
Source: Trthaber / Prepared by Irem Yildiz