The World Bank Has Announced the Amount of Support Given to Turkey

The World Bank has announced the amount of support it has given to Turkey. The bank provided Turkey with a total amount of $1.5 billion in financing.

In the 2021 fiscal year, which ended on June 30, the World Bank's financial support to Turkey for 5 critical development projects amounted to $ 1.5 billion. In the statement, which stated that the financial support was provided with a series of technical and policy recommendations and analytical studies, it was noted that with the new loan approvals in 2021, the active loan portfolio in Turkey provided to support 23 projects exceeded $ 7 billion. In the statement, financing projects prepared for the new fiscal year were mentioned, such as geothermal development, urban resilience, integrated water conservation, climate-sensitive and competitive growth in agri-food value chains, dissemination of distributed solar photovoltaic panels in Turkey, green, durable and inclusive reconstruction after the Izmir earthquake. It was stated that the preparatory work for the projects continues and no loan agreement has been signed for these projects yet. Auguste Tano Kouame, Country Director of World Bank Turkey, said: “We are working closely with many stakeholders and development partners in Turkey, as well as the Government, to support the Turkish people in the face of Covid-19 and the refugee crisis, while contributing to Turkey's long-term economic development goals and strong climate change agenda. "We are delighted to have had a fiscal 2021 year. We look forward to furthering this success as we begin a new fiscal year."