Türkiye, AIIB sign deal for $5 billion in financing

ANKARA

The Finance Ministry announced on Monday that it signed a memorandum of understanding (MoU) with the Asian Infrastructure Investment Bank (AIIB) for $5 billion in financing.

The financing from the AIIB will be used for public sector projects in three years, the ministry said in a statement.

“By continuing to implement our program with determination, we will further increase the access of both the public and private sectors to foreign financing under favorable conditions,” Finance Minister Mehmet Şimşek wrote on X, commenting on the deal.

The MoU was signed by Şimşek and Jin Liqun, the president of the Asian Infrastructure Investment Bank, on Monday in Saudi Arabia’s Al Ula.

The deal will strengthen the strong partnership between Türkiye and AIIB, making significant contributions to projects aimed at sustainable and green development, the Finance Ministry said.

“Development-focused projects will be supported in many areas, primarily energy, transportation, the real sector, export financing, health, and water management,” it added.

An additional $5 billion in financing will also be provided for private sector projects in the future, according to the ministry.

“Thus, while increasing resource diversity for our real sector and exporters, appropriate conditional financing will be provided for infrastructure and superstructure projects in various sectors and regions,” it said.