$750 Million Financing from the World Bank for Turkey's Agriculture and Food Sector
Under the project approved by the World Bank Board of Executive Directors, $750 million in concessional external financing has been provided to Turkey's agriculture and food sector.
The World Bank has approved a $750 million project designed to strengthen value chains in Turkey's agriculture and food sector.
Financing Approval and Project Objective
The Turkey Agricultural and Food Sector Transformation Project, approved by the World Bank Board of Executive Directors, aims to strengthen the competitiveness and integration of agricultural and food value chains.
Within the scope of the project, it is aimed to improve the efficiency, added value, growth, and market access capacities of agri-food enterprises and producer organizations.
Executing Agencies and Budget Details
Implemented as part of Turkey's efforts to secure concessional external financing, this project will be jointly executed by the Ministry of Agriculture and Forestry and the Agriculture and Rural Development Support Institution.
Statements by Minister Şimşek
Minister of Treasury and Finance Mehmet Şimşek emphasized that external financing efforts are continuing unabated within the framework of the economic program prioritizing sustainable growth and social welfare, as well as the Medium-Term Program.
Minister Şimşek stated that cooperation established with the World Bank on issues that will strengthen the production ecosystem will continue and that support for agriculture and rural development will strongly persist.