According to the Ministry of Finance and Finance, Türkiye continues its efforts to provide long-term external financing on favorable terms in various areas.
As part of the results-oriented Water Efficiency and Climate Resilience Program, developed to support the irrigation and flood control projects implemented by DSI, a long-term and favorable financing agreement worth the equivalent of US$500 million was signed between the Ministry and the AIIB. Thus, the first financing was raised by the bank under the program in question.
This funding is intended to promote modern and pressure-controlled irrigation systems. In addition, by strengthening flood protection capacity, the efficiency of water transfer and Türkiye's climate resilience will be increased. The project aims to improve agricultural productivity and strengthen resilience to the negative impacts of climate change.
“Türkiye strengthens its position as a preferred development partner”
Stating that the project will contribute to the sustainable management of water resources in line with the goal of ensuring productivity increase and value-added transformation in the medium-term program, Mehmet Şimşek, Minister of Finance and Finance, made the following assessments:
“With this loan, the volume of external financing on favorable terms in the field of water efficiency and modernization has reached around 1.2 billion euros in the last two years. The process of providing financing on favorable terms that emphasize Türkiye's sustainable development goals continues. Thanks to our ministry's strong and effective cooperation with multilateral development banks, the interest of international financial institutions in Türkiye continues to increase and Türkiye strengthens its position as a preferred development partner.”
“Türkiye is becoming a production location”
Minister of Finance and Finance Mehmet Şimşek emphasized that they are taking decisive steps to make Türkiye a stronger production base in his post on the issue on his social media account.
Simsek said:
We provided $500 million in long-term, favorable terms in external financing for irrigation and flood control infrastructure to increase food security. To increase agricultural productivity, we are investing in land consolidation and irrigation and strengthening our logistics infrastructure by connecting production centers to ports via railways. While we are reducing our dependence on foreign energy with the green transformation, we are increasing efficiency with the digital transformation.
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