Turkey finalized 10 financing packages at the Cop31 summit in Antalya with lenders including the World Bank, Asian Development Bank, and Asian Infrastructure Investment Bank. The targeted funding allocates billions toward disaster-resistant healthcare facilities, industrial programs, and credit access for female entrepreneurs in earthquake zones. Additionally, the government leveraged the climate conference to reach a separate $15 billion preliminary green pact with China. That bilateral agreement with China's National Energy Administration will add substantial wind, solar, and transmission capacity while enabling domestic equipment manufacturing.
Key points
Turkey has secured approximately $50 billion in external funding from international devel…: Turkey has secured approximately $50 billion in external funding from international development partners since 2023.
Capital from the Asian Development Bank will target disaster-resilient hospitals and smal…: Capital from the Asian Development Bank will target disaster-resilient hospitals and small businesses located in earthquake-affected provinces.
A preliminary 15 billion dollar agreement with China aims to install 7,000 megawatts of r…: A preliminary 15 billion dollar agreement with China aims to install 7,000 megawatts of renewable solar and wind capacity.
Sources checked by our analysis pipeline: 1
Turkey signed 10 loan agreements worth $5.1bn with multilateral development banks on Thursday to accelerate its green transition.
Speaking at the signing ceremony on the sidelines of the UN climate conference Cop31 in Antalya, Treasury and Finance Minister Mehmet Simsek said no country could finance the green transition alone.
"No country's budget can meet the investment needs of this transformation on its own," he said. "That is why support from multilateral development banks is critically important to us."
The agreements were signed between the ministry and the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), the World Bank and the Islamic Development Bank (IsDB).
Simsek said Ankara had done its homework by thoroughly preparing projects and securing the financing needed to implement them.
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The projects, he said, would create jobs and strengthen the Turkish economy. He added that Turkey had secured approximately $50bn in external financing from its development partners since 2023.
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