Türkiye secured $7.7 billion (TL 268.52 billion) in favorable exterior financing up to now this 12 months, together with the current $1.2 billion permitted by the World Bank, Treasury and Finance Minister Mehmet Şimşek stated Thursday.
Speaking to Anadolu Agency (AA), the minister acknowledged that the World Bank greenlighted roughly $1.2 billion in exterior financing for Türkiye this month.
“Together with the World Bank, the total amount of favorable external financing obtained from other creditors this year has reached $7.7 billion. We expect this amount to increase by the end of the year,” he stated.
Emphasizing the sturdy outcomes of Türkiye’s cooperation with worldwide organizations in accessing exterior financing, Şimşek stated, “We continue to secure favorable, long-term external financing for our development-oriented projects.”
Şimşek additionally supplied particulars concerning the initiatives for which this financing will probably be used.
The minister defined that roughly $660 million will probably be allotted for the Eastern Türkiye Middle Corridor Railway Development Project, which will probably be applied by the Ministry of Transport and Infrastructure.
He additionally talked about the implementation of the $250 million Public Health Emergency Preparedness Project, to be carried out by the Ministry of Health. Additionally, about $250 million in exterior funding will probably be used for the Earthquake Region Agricultural Sector Improvement Project, which will probably be applied by the Ministry of Agriculture and Forestry.
Highlighting the sturdy partnership between Türkiye and the World Bank, Şimşek additional stated that the “financing will be used to accelerate decarbonization in the transportation sector, increase the use of rail freight transportation, strengthen preparedness for health emergencies and enhance resilience in the agricultural and food sectors.”
Şimşek additionally knowledgeable that the World Bank’s financing for development-focused initiatives is anticipated to achieve $5 billion by the tip of this 12 months.
“With confidence in Türkiye’s economy and our program, we will continue our efforts to secure favorable external financing for our country,” he concluded.
Source: www.dailysabah.com