Minister of Treasury and Finance, Mehmet Şimşek, announced that a €895.7 million (TRY 25.8 billion) credit agreement had been signed with the World Bank to address financing needs related to renewable energy and water efficiency.
Speaking on the matter, Şimşek said, “We serve as a bridge to meet the financing needs of ministries and local governments for renewable energy and water efficiency. In this context, we have signed a credit agreement with the World Bank with a total amount of €895.7 million. Of these credits, €570.75 million are allocated and €325 million are guaranteed by the Treasury. The World Bank had previously announced a $35 billion financial package for Turkey. With the financing received from the bank and the new agreements we have signed, the total has now reached approximately $3.2 billion.”
After the elections on May 28, the new economic management in Turkey had shifted towards orthodox policies and initiated efforts to attract foreign capital to Turkey.
