Announcement from Turkey’s Finance Minister regarding World Bank credit
Minister of Treasury and Finance Mehmet Şimşek commented on the World Bank’s plan to provide Turkey with an additional $18 billion in credit. In a tweet from his official account, Şimşek said “The decision of the World Bank to significantly increase its fund for Turkey is another approval of our medium-term economic program.”
The Minister also mentioned that the World Bank planned to double the financing it provides to Turkey’s public and private sectors over the next three years, to reach $35 billion.
He also pointed out that the United Arab Emirates (UAE) had announced a $51 billion investment plan in Turkey over the next three years, saying, “The presence of such significant external financing will undoubtedly strengthen the successful implementation of our program.”
Humberto Lopez, the Country Director of the World Bank in Turkey, had previously made the following statement: “In addition to our ongoing program in Turkey, we intend to prepare and present new operations worth $18 billion to the Board of Directors.”
