$485 million resource for green and digital transformation of Turkish industry

Türkiye's efforts to obtain external financing with favorable conditions continue.

The Twin Transformation of Industry Project was approved by the World Bank Board of Executive Directors.

Within the scope of the project to be carried out by Türk Eximbank and VakıfBank, the Ministry will provide external financing with favorable conditions for 485 million dollars from the World Bank. Funds equivalent to 242.5 million dollars will be transferred to each of the banks in question to be made available on loan.

With the project, financing will be provided for the green and digital transformation investments of small and medium-sized enterprises (SMEs) and medium-large scale enterprises that have incentive certificates and operate in the manufacturing industry within the framework of the Green Transformation and Digital Transformation programs of the Ministry of Industry and Technology.

In this regard, the competitiveness of the country's industry in global value chains will be strengthened by supporting the real sector's development of sustainable production models and advanced technology adaptation.

Minister of Treasury and Finance Mehmet Şimşek pointed out that Türkiye continues to provide external financing in line with its economic program, sustainable development goals and Medium Term Program, whose ultimate goal is permanent welfare increase, and said, "While the total amount of long-term and favorable conditional external financing provided this year is 10 billion dollars, our support for the industrial sector will continue strongly with this loan."

Şimşek said that the cooperation with the World Bank will continue to grow stronger in the coming period.

Source: TRT Haber Ekonomi RSS (Open Press / Translated Full Text)