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Turkey Signs EUR985m Loan Agreement with World Bank

TURKEY

As per Anadolu Agency, Finance Minister Simsek said the following: “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 Treasury guaranteed. The World Bank announced that it would provide a financial package of 35 billion dollars for Turkey. The financing amount from the bank has now reached approximately 3.2 billion dollars with the new agreements we signed."

  • Simsek stated that the resources can be used in new investments of the real sector, especially in the rehabilitation of the earthquake zone and green transformation.
  • Simsek pointed out that if renewable energy investments are carried out in 3 years instead of being spread over the next 10 years, the current account deficit and foreign dependency will decrease.
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