The World Bank has approved 350 million euros ($410 million) in financing to support a project aimed at improving skills among young people entering Türkiye's labor market, according to the Treasury and Finance Ministry.

The funding will be provided under the "Türkiye Education for Labor Market Readiness Project," which was approved by the World Bank's Board of Executive Directors. The project will be implemented by the Ministry of National Education.

It aims to help young people acquire skills demanded by the labor market by improving learning environments, strengthening teachers' professional capacity and expanding cooperation with the private sector.

The latest funding adds to Türkiye's efforts to secure financing from international financial institutions.

Including the latest project, the total amount of concessional external financing approved by the World Bank for Türkiye in 2025 has reached around $4.6 billion.

Treasury and Finance Minister Mehmet Şimşek said the government continues work within the framework of an economic program that prioritizes sustainable growth and social welfare.

"The productivity gains to be achieved by strengthening our education capacity and equipping young people with the skills required by the age will make a significant contribution to our country's development," Şimşek told Anadolu Agency (AA).

He added that cooperation with the World Bank would continue to strengthen in the coming period.