Loan of 895.7 million euros from the World Bank

Stating that they served as a bridge to meet the financial needs of ministries and local governments in renewable energy and water efficiency, Minister of Treasury and Finance Mehmet Şimşek said: “In this context, we signed a loan agreement with the Bank World Cup with a total amount of 895.7 million euros.”

Şimşek said that investments in renewable energy and production efficiency are important to reduce the current account deficit and foreign dependence, and that they, as a Ministry, continue to work on the necessary financing for new investments.

Reminding that they opened a special title for “green transformation” in the Medium Term Program (PMP) and prioritized these projects in public investments, Şimşek said that they also held meetings with people and institutions that could provide financial resources during their contacts abroad.

THE FINANCING OFFERED BY THE BANK REACHED 3.2 BILLION DOLLARS

Recalling that the World Bank plans to provide 35 billion dollars in support to Turkey, Şimşek stated that such resource can be used in new real sector investments, especially in the rehabilitation of the earthquake zone and green transformation.

Şimşek stated that in this context, they signed agreements to provide financing of 500 million euros from the World Bank under the “Renewable Energy in the Public and Municipalities Project” to be implemented by the Ministry of Environment, Urbanization and Change Climate. and İller Bankası AŞ.

Furthermore, Şimşek stated that they provided financing of 395.75 million euros from the World Bank for the “Water Circularity and Efficiency Increasing Project” to be implemented by the General Directorate of State Hydraulic Works and İller Bankası AŞ.

570.75 MILLION EUROS ALLOCATED, 325 MILLION TREASURE GUARANTEED

“We act as a bridge to satisfy the financing needs of ministries and local governments in terms of renewable energy and water efficiency. In this context, we signed a loan agreement with the World Bank for a total amount of 895.7 million euros.

Of these loans, 570.75 million euros are allocated and 325 million euros are guaranteed by the Treasury. The World Bank announced that it would provide a financial package of 35 billion dollars to Türkiye. “With the new agreements we have signed, the amount of financing from the bank has reached approximately $3.2 billion.” (AA)