Treasury and Finance Minister Mehmet Şimşek on Monday received a delegation from the Asian Development Bank (ADB) as the lender is set to launch its operations in Türkiye.
ADB is envisaged to provide long-term financing opportunities for the public and private sectors across diverse fields, including infrastructure, environment, education, finance and energy, a statement by the Treasury and Finance Ministry said.
The launch of operations will come after ADB's board of governors adopted a resolution last month that changes Türkiye's membership status from a "non-regional member" to a "regional member," which the ministry said was a first in the 59-year history of the bank.
"This process was successfully completed with broad support in just four-and-a-half months, thanks to the strong dialogue established with member countries and the trust in our economic program," the statement said.
"In line with this decision, the ADB will start its activities in our country. Thus, our public and private sectors will benefit from the bank's long-term and advantageous financing opportunities in various fields such as infrastructure, environment, education, finance and energy."
The ADB delegation arrived in Türkiye on Friday for a week-long visit to discuss operational plans and establish contacts with representatives of the public and private sectors.
Şimşek conveyed Türkiye's priorities and the policies being pursued under the government's medium-term economic program, while the delegation outlined the general framework of ADB's future work program for the country, the statement said.
"Thanks to the strong relationships and effective project financing management established by our ministry with multilateral development banks, our country has become a preferred development partner, with our active portfolio size in these organizations reaching $35 billion," it noted.
"This success is an important indicator of the confidence in our economic program."
The Manila-based Asian Development Bank boasts 69 member countries, a registered capital of $142.7 billion, and a paid-in capital of $7.1 billion.
Türkiye, a member since 1991, holds $480.7 million in registered capital, equating to 0.56% voting power within the organization.
