World Bank announces $10B funding for Türkiye in recognition of economic growth

As Türkiye’s exchange rate index hits a 3-year high, Humberto Lopez, World Bank’s Türkiye Director, made significant announcements at the first TSKB Development Day organized by the Industrial Development Bank of Türkiye (TSKB).

$10B funding

Highlighting Türkiye’s average growth rate of 5.4% during this period, Lopez noted that an additional $10 billion in financing will be provided to Türkiye, on top of existing funds.

“We can talk about 3 main topics. The first is growth; without growth, there can be no development. We need to ensure growth first,” Lopez stated.

In Türkiye, per capita income quadrupled

“The second topic is the social aspect, inclusivity. We must ensure that growth benefits not just a select few but all segments of society. The third is sustainability, which supports the concept of green growth. In Türkiye, per capita income has quadrupled over the past 26 years.”

Continued progress over the next 20 years

“In real terms, it has increased fourfold over 20-30 years. This achievement must be recognized. We need to ensure the success of the past 20-25 years continues over the next 20 years and builds upon it. In a high-inflation environment, it is not always easy to channel investments into the most productive sectors,” Lopez concluded.