Türkiye signs agreement with World Bank totaling 3.2 billion Euros: Minister Simsek

Economy  |
Editor : Kevser Erbay
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New agreement signed, Turkish Treasury and Finance Minister Simsek announced that Türkiye signed an agreement with the World Bank totaling 3.2 billion Euros. The World Bank's financing support to the public and private sectors in Türkiye has increased to 35 billion dollars.

Türkiye signs agreement with World Bank totaling 3.2 billion Euros: Minister Simsek

Treasury and Finance Minister Mehmet Simsek announced that a new agreement was signed with the World Bank. Reminding that the World Bank has increased its financing support to the public and private sectors in Türkiye to 35 billion dollars,

"We signed an agreement with the World Bank for a total amount of 3.2 billion euros," Minister Simsek said.

SIGNING A NEW AGREEMENT WITH THE WORLD BANK

Pointing out that the current account deficit and foreign dependency will decrease, the Turkish Minister stated that the World Bank is an important stakeholder in the source of financing and said that they have signed an agreement that can be used in new investments in the real sector, especially in the rehabilitation of the earthquake zone and green transformation.

"We act as a bridge in meeting the financing needs of ministries and local governments regarding renewable energy and water efficiency. In this context, we signed a loan agreement with the World Bank with a total amount of 895.7 million euros. 570.75 million euros of these loans are allocated and 325 million euros are guaranteed by the Treasury. The World Bank had announced that it would provide a financial package of 35 billion dollars for Türkiye. The amount of financing from the bank has now reached approximately 3.2 billion dollars with the new agreements we have signed," Simsek said.

500 MILLION EUROS FOR RENEWABLE ENERGY

Simsek also provided details about the loan agreement amounting to 895.7 million Euros. He said that they signed agreements on the financing of 500 million euros from the World Bank within the scope of the "Renewable Energy Project in Public and Municipalities" (PUMREP) to be implemented by the Ministry of Environment, Urbanisation and Climate Change and Iller Bank Inc.

395 MILLION EUROS TO ILBANK

Simsek also informed that they have secured financing amounting to 395.75 million Euros from the World Bank for the "Project for Increasing Water Circularity and Efficiency" to be implemented by the General Directorate of State Hydraulic Works and IlBank Inc.

Source: Anadolu Agency

 

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