The World Bank is holding talks with Turkey to increase financing to Ankara beyond the $35 billion it has already provided through 2028, a source with knowledge of the matter said.
Ajay Banga, President, World Bank Group © Simone D. McCourtie / World Bank
The World Bank is holding talks with Turkey to increase financing to Ankara beyond the $35 billion it has already provided through 2028, a source with knowledge of the matter said.
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 Turkey's treasury and finance ministry did not respond to a request for comment.
The World Bank last year increased its financing to Turkey to $35 billion from $17 billion.
Humberto Lopez, the World Bank's Turkey director, told Reuters last year that the $35 billion package was in response to the "strong commitment" by Ankara to re-establish macroeconomic stability and to support steps in that direction.
Turkey and the World Bank also signed a financing deal of $1.9 billion for four projects this week.
Turkish Finance Minister Mehmet Simsek was in Washington this week for the G20 and World Bank meetings.
World Bank financing to Turkey mostly focuses on renewable energy, flood management, climate change adaptation and mitigation, and support for the export sector.
By Jonathan Spicer
Tayyip Erdogan's main political opponents have faced an unprecedented crackdown that has seen more than 500 detained in just nine months, according to a Reuters review of a sprawling investigation that has accelerated dramatically in recent days.
The handover of weapons by the outlawed Kurdistan Workers Party (PKK) in Iraq, following its decision to disband, should be completed within a few months, a spokeperson for Turkey's ruling AK Party said late on Wednesday.
The United States said on Wednesday it was imposing sanctions on Francesca Albanese, the United Nations' special rapporteur on human rights in the occupied Palestinian territories, who has been very critical of U.S. ally Israel's war in Gaza.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.