Türkiye’s path to high-income status: Key talks with World Bank Chief

President Recep Tayyip Erdogan, Treasury and Finance Minister Mehmet Simsek and Energy and Natural Resources Minister Alparslan Bayraktar met with World Bank Group Chief Ajay Banga on Tuesday in Ankara, Türkiye.

The meetings focused on discussing Türkiye’s Country Partnership Framework (CPF) for the 2024-2028 fiscal years and exploring potential collaborations in various sectors.

Minister Simsek highlights Türkiye’s prominent position in the World Bank portfolio

Minister Simsek and Ajay Banga focused on potential collaborations in resilient cities, energy transformation, infrastructure, support for small- and medium-sized enterprises (SMEs), and employment.

Simsek highlighted Türkiye’s significant standing in the World Bank’s portfolio, ranking second globally and first in its region.

CPF framework aims for high-income transition

He expressed gratitude to the international financial institution for its confidence in Türkiye’s medium-term economic program and the “support it provides to our country.”

Banga also reiterated support for Ankara’s economic program during the visit, according to Turkish officials.

In April, the World Bank Group announced the CPF to assist Türkiye in transitioning to high-income status. The framework will emphasize productivity growth, job creation, improved public service delivery, and resilience against natural disasters.

President Erdogan’s closed-door meeting with Banga

President Recep Tayyip Erdogan also received Banga at the presidential complex in Ankara, marking the Banga’s first visit to Türkiye as head of the World Bank Group.

Although details of their closed-door meeting were not disclosed, it underscored the significance of the World Bank’s engagement with Türkiye.

Energy Transition discussed with Minister Bayraktar

Banga met with Energy and Natural Resources Minister Alparslan Bayraktar to discuss Türkiye’s energy transition.

Their talks covered support for renewable energy, energy efficiency, and the enhancement of transmission and distribution infrastructure.

Bayraktar noted the importance of creating a predictable, transparent and conducive investment environment in Türkiye and explored further collaboration opportunities with the World Bank.