Türkiye secures $500 million funding for water efficiency, flood protection projects

ANKARA

Türkiye has secured $500 million in external financing from the Asian Infrastructure Investment Bank (AIIB) to support irrigation infrastructure and flood prevention projects implemented by the country’s water authority, the Treasury and Finance Ministry announced.

The long-term and concessional funding forms part of Türkiye’s ongoing efforts to mobilize external resources on favorable terms across priority development areas.

The financing will be directed toward expanding modern, pressurized irrigation systems and improving flood control infrastructure across the country.

Authorities say the program is designed to increase water transmission efficiency, reduce losses in agricultural production, and bolster resilience against the growing impacts of climate change, particularly extreme weather events and flooding risks.

Treasury and Finance Minister Mehmet Şimşek emphasized that the agreement aligns with the government’s Medium-Term Program, particularly its focus on productivity gains and value-added transformation.

He noted that the new financing brings the total concessional external resources mobilized for water efficiency and modernization projects over the past two years to approximately €1.2 billion ($1.4 billion).

Şimşek further stated that Türkiye’s efforts to secure sustainable, low-cost external financing would continue.

He added that this cooperation has contributed to growing international investor interest, reinforcing Türkiye’s position as a “preferred development partner” in global infrastructure and sustainability initiatives.