The Asian Development Bank (ADB) will provide $7 billion in financing to Türkiye over the three years to 2027, the Treasury and Finance Ministry announced in a statement on Wednesday.
The ADB plans to provide $1 billion by the end of 2025 and $3 billion each year in 2026 and 2027 in financing for public and private sector projects, the ministry said in a written statement, conciding with the visit of the Asian Development Bank President Masato Kanda to Türkiye.
In his first two-day official visit to the country, he met on Wednesday with Treasury and Finance Minister Mehmet Şimşek, the statement said.
"During the meeting, the new cooperation opportunities that emerged after Türkiye transitioned to a regional member status in the ADB in 2024 were discussed in detail. With this status change, it has become possible for our public and private sectors to benefit from the bank's favorable financial and technical support opportunities," it added.
During the meeting, the Interim Country Partnership Strategy (ICPS), prepared to determine the general framework of the activities the bank will carry out in Türkiye during the 2025-2027 period in alignment with national development priorities, was introduced, the statement also said.
The strategy targets issues such as the reconstruction process following the February earthquakes and strengthening disaster-resilient infrastructure, development of human capital, support for development projects aimed at increasing water, food and energy security, strengthening Türkiye's regional hub status in transportation, energy and digital integration sectors, and promotion of the Middle Corridor initiative.
In line with this, a total of $7 billion in financing is planned through 2027.
"Thanks to the strong cooperation conducted by the Ministry of Treasury and Finance with multilateral development banks, Türkiye has become a reliable and preferred development partner," the ministry said.
"As of today, the total active portfolio of projects carried out with these institutions (the World Bank, the European Bank for Reconstruction and Development, the International Finance Corporation, the Asian Infrastructure Investment Bank, the Islamic Development Bank, the Council of Europe Development Bank, the Black Sea Trade and Development Bank and the Economic Cooperation Organization Trade and Development Bank) has reached approximately $40 billion," it further said.
"This strong cooperation is a concrete indication of the international confidence in our economic program," it concluded.
Established in 1966 and headquartered in Manila, the ADB is an international financial institution with 69 member countries, 50 of which are regional. The ADB aims to support sustainable, inclusive and resilient growth across Asia and the Pacific. Türkiye joined the bank as a non-regional member in 1991 and transitioned to a regional member status at the end of 2024.
