Minister Mehmet Simsek Announces Final Stage of External Funding Agreement, Emphasizing Long-Term Investments in Green Economy and Infrastructure
Turkiye is on the brink of securing $2.5 billion in external financing as the final stage of the agreement is set to be signed, according to Treasury and Finance Minister Mehmet Simsek. The funding will bolster the country’s economy, particularly in areas aligned with Turkiye’s economic program, including sustainable infrastructure and green transformation initiatives.
Minister Simsek emphasized the importance of coordinated efforts between relevant ministries and organizations to secure funding for projects that align with Turkiye’s economic priorities. He highlighted that this year alone, $2.9 billion in long-term financing with below-market interest rates has been obtained, primarily directed towards rebuilding infrastructure in earthquake-affected regions.
In addition to supporting recovery efforts, the funds will be allocated to projects promoting energy efficiency, climate resilience, and green economy transitions. Among the forthcoming agreements, nearly $1.9 billion in World Bank-approved projects are set to be signed, focusing on flood prevention, energy efficiency in public buildings, and the reconstruction of small industrial sites in earthquake-hit areas.
Furthermore, Minister Simsek announced nearing completion of additional financing agreements with international institutions, including the Islamic Development Bank and the Asian Infrastructure Investment Bank. These funds will support various initiatives, from improving road networks in the earthquake zone to aiding schools in the region.
As Turkiye continues to strengthen its international partnerships, Minister Simsek reiterated the commitment to transparency, consistency, and accountability in the utilization of these funds, reflecting growing confidence in the country’s economic program.
Source: Trthaber / Prepared by Irem Yildiz