Türkiye aims to secure $41 billion in project financing, says Şimşek

ISTANBUL

Türkiye aims to secure approximately $41 billion in long-term and low-cost project financing from international financial institutions over a three-year period, Finance Minister Mehmet Şimşek has announced.

In a post on X on April 26, Şimşek noted that during his visit to the U.S. last week, where he attended the IMF, the World Bank and G20 meetings, he also met with representatives of the international financial institutions.

He held talks with officials from the World Bank, the International Finance Corporation, the European Bank for Reconstruction and Development (EBRD), the Asian Infrastructure Investment Bank, the Islamic Development Bank and the European Investment Bank (EIB) to strengthen collaborations, Şimşek said.

“We are among the countries that most effectively utilize development financing,” he wrote.

The financing to be secured from those institutions will be used for green and digital transformation, disaster resilience, infrastructure investments, and inclusive growth projects, Şimşek said.

"We welcome the European Council’s proposal for the EIB to resume its operations in Türkiye. This will further strengthen our partnership and contribute to stability and prosperity in the region,” the minister said, following a meeting with Nadina Calvion, president of EIB.

“We appreciate the EIB’s support for Türkiye’s earthquake reconstruction efforts, including the 400 million euros facility,” Şimşek added.

For her part, Calvino said that they had a productive meeting on the margins of the IMF-World Bank Spring Meetings.

"We discussed the current economic outlook and policy priorities. In a context of high volatility and uncertainty, partnerships are key to provide stability and prosperity,” she said.

In a separate post on X on April 26, Şimşek assessed his engagements in the U.S.

During his visit to the U.S., he held more than 60 meetings, including 2,000 investors, multilateral development banks, credit rating agencies, U.S. tech companies, think tanks and NGOs, as well as bilateral meetings, the minister said.

“The summary of these meeting: Interest in Türkiye is strong. The country’s economic program is closely watched. Questions are asked about long-term investment opportunities,” Şimşek wrote.

In Washington, Şimşek also met with U.S. Treasury Secretary Scott Bessent to discuss strengthening economic ties and regional cooperation.

In New York, the minister, accompanied by Central Bank Governor Fatih Karahan, attended the 16th Türkiye Investment Conference, organized by the Türkiye-U.S. Business Council (TAİK) and Citi Group, where they met with a group primarily composed of portfolio investors.

Senior representatives from more than 25 institutions with total assets exceeding $4 trillion attended the event.

In Washington, Şimşek participated in investor meetings separately organized by Barclays, Jefferies, JP Morgan and Bank of America, delivering presentations on the Turkish economy.