World Bank extends program with Turkey

ANKARA

A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. (REUTERS File Photo)

The World Bank Group’s Board of Executive Directors has decided to extend the current partnership program by two years to align with Turkey’s 11th Development Program for the 2019-2023 period and its New Economic Program which sets out the longer-term structural reforms to be pursued to address the country’s development challenges.

“Turkey has the opportunity to bring higher standards of living to all of its population and to enhance its role in the global economy. This Performance and Learning Review (PLR) details how the World Bank Group aims to work with Turkey to contribute to turning this opportunity into a reality,” said Auguste Tano Kouame, World Bank Country Director for Turkey.

“The World Bank Group will contribute to mobilize financing, knowledge, and global experience help Turkey to strengthen the institutions needed to sustain social and economic progress,” he added.

“As the private sector arm of the World Bank Group, the International Finance Corporate (IFC) will continue to support Turkish financial institutions, corporates and projects to enhance the impact on growth, inclusion and sustainability,” said Arnaud Dupoizat, IFC Country Manager for Turkey.