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
The Islamic Revolutionary Guard Corps (IRGC) has issued what it apparently considers a fearsome ultimatum: condemn American-Israeli strikes on Iranian universities by noon Monday, or US university campuses across the Middle East will face "retaliation."
Israeli police prevented the Latin Patriarch of Jerusalem from marking Palm Sunday at the Church of the Holy Sepulchre "for the first time in centuries," the Patriarchate said, with police citing security concerns linked to the Iran war.
Pakistan hosted talks with Turkey, Egypt and Saudi Arabia on Sunday as part of its efforts to broker an end to the Iran war, with initial discussions focused on proposals to reopen the Strait of Hormuz to shipping, sources familiar with the matter said.
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.