AIIB Provides $5 Billion to Turkiye for Three Years
Turkiye’s Finance Ministry has signed a memorandum of understanding (MOU) with the Asian Infrastructure Investment Bank (AIIB) to provide $5 billion in financing for public sector projects over three years.
AIIB President Jin Liqun, who met with Turkiye’s Minister of Treasury and Finance Mehmet Simsek at the Conference for Emerging Market Economies in Al-Ula on Monday, discussed how to further strengthen the strategic partnership between the Bank and Turkiye.
The two leaders signed the MOU outlining an investment programme guiding AIIB’s sovereign-backed financing in Turkiye from 2025 to 2027.
Signing of the MOU marks a milestone in AIIB-Turkiye relations, formalising a framework for collaboration that aligns with Turkiye’s 12th Development Plan (2024-2028) and AIIB’s commitment to green and resilient infrastructure.
Speaking on the occasion, Jin said that Turkiye has been a key partner of AIIB since the Bank’s inception, with $5.5 billion in approved financing for critical projects across energy, transport, urban resilience, and disaster response.
“Our investments between 2025 and 2027 will focus strategically on climate resilience, water management, sustainable transport, earthquake preparedness and other productive sectors, such as healthcare, and will support Turkiye’s long-term climate strategy,” he added.
Turkiye’s Minister Simsek said that AIIB has been a trusted partner in Turkiye’s development, supporting their efforts to build resilient infrastructure and strengthen economic sustainability.
The Minister added: “This agreement reflects our shared vision for mobilising investments that enhance climate resilience, improve disaster preparedness and achieve green and digital transition.”
The three-year program will be reviewed semi-annually to ensure alignment with Turkiye’s evolving infrastructure needs and AIIB’s operational priorities. The partnership underscores AIIB’s commitment to supporting Turkiye’s long-term growth through investments that foster sustainable economic growth and climate adaptation.
Turkiye’s Green initiatives
It may be recalled that Turkiye’s Environment, Urbanisation and Climate Change Minister Murat Kurum presented the country’s climate road map during the UN Climate Change Conference (COP29) held in Baku, Azerbaijan, in November last year.
The road map outlined ambitious targets, including increasing the share of renewable energy in primary energy to 50% and nuclear energy to 30%, aiming to decarbonise around 80% of the country’s energy consumption.
The road map also includes plans to enhance technology use in agricultural irrigation, achieve at least 10% organic farming on agricultural land, increase the waste recovery rate to 70% and implement a deposit management system nationwide by the end of 2025.
