Türkiye, World Bank reportedly in talks to increase $35B exposure

The World Bank is in discussions with Türkiye about boosting financing to Ankara beyond the existing $35 billion commitment slated through 2028, according to a source familiar with the matter.

A “further increase” on the $35 billion is expected, the person told Reuters, declining to be named as the discussions are confidential.

The World Bank and Türkiye’s Treasury and Finance Ministry did not respond to a request for comment.

The World Bank last year increased its financing to Türkiye to $35 billion from $17 billion.

Humberto Lopez, the World Bank’s Türkiye director, told Reuters last year that the $35 billion package was in response to the “strong commitment” by Ankara to reestablish macroeconomic stability and to support steps in that direction.

Türkiye and the World Bank also signed a financing deal of $1.9 billion for four projects this week.

Treasury and Finance Minister Mehmet Şimşek was in Washington this week for the G-20 and World Bank meetings.

World Bank financing to Türkiye mostly focuses on renewable energy, flood management, climate change adaptation and mitigation, and support for the export sector.

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