World Bank grants $ 1.5 billion in financing to Turkey for 5 projects


The World Bank has provided funding worth $ 1.5 billion (TL 12 billion) to five critical development projects in Turkey in fiscal 2021, the bank said on Thursday.

Recalling the country’s efforts to recover from the impact of COVID-19, the bank said the financial support has contributed to the implementation of Turkey’s 11th National Development Plan, as set out in the partnership framework with the Bank’s country.

With the new loan approvals in 2021, Turkey’s active loan portfolio reached just over $ 7 billion covering 23 projects, the bank said.

The World Bank is helping Turkey limit the damage from the pandemic while advancing long-term development needs, said Auguste Kouame, World Bank country director for Turkey.

“Our programs, in the fiscal year just ended (as of June 30), are helping to preserve jobs, maintain the private sector, improve resilience to climate change and other development priorities.” , said Kouame.

Promoting the World Bank‘s fiscal year 2021 agenda, Kouame pledged that the bank will seek to support the Turkish people in the face of COVID-19 and the refugee crisis while contributing to Turkey’s long-term development ambitions. and its strong climate change. agenda.

“We look forward to building on this success as we begin a new fiscal year,” he added.


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