Funding for Turkey of $18 Billion

Turkish Minister of Treasury and Finance, Mehmet Şimşek, announced an agreement with the World Bank for funding of $18 billion over the next three years. Şimşek stated that the World Bank had recently provided funding to Turkey amounting to $1.5 billion. He explained that this funding ($1.5 billion) will be used to ensure energy supply security and support the green transition of companies in Turkey. He indicated that Turkey has signed a new agreement with the World Bank that forms the basis of financial and technical cooperation for the financial years covering 2024-2028. He added, "As part of our strong cooperation with the World Bank, a financial cooperation program for the next five years has been established, and an additional $18 billion will be provided to our country during the first three years of this mentioned program."