Minister Şimşek announced: Turkey's long-term external financing reached 10 billion dollars

The World Bank Board of Executive Directors approved the Industry's Twin Transition Project, which aims to accelerate the green and digital transformation of the manufacturing industry in Turkey. Within the scope of the project, $485 million in concessional external financing is provided through Türk Eximbank and VakıfBank, while Minister of Treasury and Finance Mehmet Şimşek announced that the total long-term external financing secured this year has reached $10 billion.

Within the framework of the Industry's Twin Transition Project approved by the World Bank Board of Executive Directors, concessional external resources equivalent to $485 million will be transferred to Turkey. The financing in question will be distributed to Türk Eximbank and VakıfBank as on-lent usage of $242.5 million each. The provided resources will be utilized to finance the investments of SMEs and medium-large scale enterprises holding incentive certificates under the Green Transformation and Digital Transformation programs of the Ministry of Industry and Technology.

Minister of Treasury and Finance Mehmet Şimşek emphasized that external financing is secured in line with Turkey's economic program, sustainable development goals, and the Medium-Term Program. Şimşek noted that the total amount of long-term and concessional external financing procured this year has reached $10 billion. He also stated that this resource will contribute to strengthening fair and easy access to climate finance, in line with the priorities of COP31 to be hosted in November, and to accelerating adaptation and transformation processes.