The World Bank has approved 750 million US dollars (£560 million) in financing to support the transformation of Turkey’s agri-food sector, the Treasury and Finance Ministry has said.
The Turkey Agri-Food Sector Transformation Project was approved by the World Bank’s Board of Executive Directors, the ministry said, as Turkey continues efforts to secure external funding on favourable terms.
The project will be carried out by the Ministry of Agriculture and Forestry and the Agriculture and Rural Development Support Institution (TKDK).
It aims to strengthen the competitiveness and integration of agri-food value chains, and to improve the productivity, value added, growth and market access of agri-food businesses and producer organisations.
The ministry said the new funding would take long-term, favourable external financing from the World Bank for all sectors in 2026 above 9 billion US dollars (£6.7 billion).
Treasury and Finance Minister Mehmet Şimşek said Turkey’s cooperation with the World Bank on strengthening the country’s production ecosystem would continue.
He said: “With our economic programme that prioritises sustainable growth and social welfare, our efforts to secure long-term external financing on favourable terms under the Medium Term Programme are not slowing down.”
Mr Şimşek added that support for agriculture and rural development would continue “strongly” as a result of the loan.
