Financial Support for Agriculture and Food Investments Through the TARGET Project
Under the TARGET Project, financed by the World Bank, credit opportunities of up to ten million dollars are offered to agricultural and food enterprises with maturities of up to seven years, including a two-year grace period.
With the TARGET Project implemented by Ziraat Bank and ARDSI under the coordination of the Ministry of Agriculture and Forestry, it has been decided to provide financing support of up to ten million dollars for agriculture and food investments.
Scope and General Objective of the Project
The Turkey Transformation of Agriculture-Food Sector for Employment and Rural Prosperity Project, carried out under the general coordination of the Ministry of Agriculture and Forestry, implemented by Ziraat Bank and the Agriculture and Rural Development Support Institution, and financed by the World Bank, is being brought to life.
Financing Terms and Maturity Conditions
Within the scope of the project, repayable financing of up to eighty percent of the investment amount can be provided, and it is envisaged to utilize resources up to ten million dollars depending on the investment size. This financing opportunity will be delivered to investors with a maturity of up to seven years, including a maximum two-year grace period.
Resource Amount and First Phase Planning
The financing, planned as a total of 5.3 billion dollars over a ten-year period, aims to disburse 750 million dollars of resources to the market in its first phase. The supports are planned to be utilized in the construction of facilities in the fields of agriculture and food, as well as machinery and equipment investments.
Calendar and Application Processes
Within the scope of the TARGET Project, the project announcement is planned to be made by the Agriculture and Rural Development Support Institution by the end of the year. Following the evaluation of applications, financing disbursements are targeted to begin in 2027.
Evaluations by Ministry and Institution Executives
Deputy Minister of Agriculture and Forestry Ahmet Bağcı emphasized that the project will encourage investments compatible with production planning and strengthen producers' access to the market. Ziraat Bank General Manager Alpaslan Çakar and ARDSI President Ahmet Antalyalı also pointed out the importance of the project for the sustainable development of the sector.