The Islamic Development Bank finances projects in Turkey

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Turkish Minister of Treasury and Finance Mehmet Şimşek announced that his country had received financing from the Islamic Development Bank worth $6.3 billion.

This came in a statement about his current visit to Saudi Arabia to attend the annual meetings of the Islamic Development Bank, which coincides with the 50th anniversary of its founding.

The Turkish minister added that the Islamic Development Bank approved the strategy for its activities in Turkey for the period 2024-2026.

Under the strategy that was signed by Şimşek and the head of the Islamic Development Bank, Sulaiman Al-Jasser, the bank will finance projects in Turkey worth $6.3 billion.

He stressed that the projects that will be funded by the Islamic Development Bank focus primarily on development, in addition to education, health, transportation, agriculture, industry, energy, and infrastructure.

In a related context, Şimşek pointed out that the Islamic Development Bank has financed projects worth $12.9 billion in Turkey since its founding until now.

This step by the Islamic Development Bank comes nearly two weeks after Şimşek announced that an agreement had been reached with the World Bank to finance the country with $18 billion over the next three years.