Investment

World Bank has lent a 350.9 million euro ($400 million) loan to Turkey, under the Resilience, Inclusion and Growth Development Policy Financing (RIG-DPF) program, Turkey’s treasury announced this week.

The loan agreement is signed to support Turkey’s efforts to increase domestic savings, enhance economic participation among vulnerable groups, and address structural bottlenecks to ensure sustainable growth, the Treasury said.

It noted that the total maturity of the loan was 10 years including a grace period of three-and-a-half years.

According to the World Bank, the policies, strategies, and reform actions supported under the program center on three strategic outcomes.

“The first pillar aims to increase domestic savings to help address external imbalances and reduce fiscal risks,” the bank said in a press release.

“The second pillar aims to support participation of women, youth, long-term unemployed, and Syrians under temporary protection in the labor market,” it stated.

“The third pillar aims to remove structural bottlenecks to sustainable growth,” the bank said, adding that this would be achieved by enacting an appropriate legal framework for the protection of industrial property.

The World Bank also said that removing structural bottlenecks would be achieved by improving allocation of capital, by facilitating access to credit for small and medium enterprises, and deregulating network industries through the liberalization of the railways sector.

Share this article with your professional network:
September 14, 2017

World Bank provides $400 million loan to Turkey to reduce financial risks

World Bank has lent a 350.9 million euro ($400 million) loan to Turkey, under the Resilience, Inclusion and Growth Development Policy Financing (RIG-DPF) program, Turkey’s treasury […]
September 6, 2017

European FDI to Turkey rose %61 in 2017 despite political rethoric

Turkey received over $4.9 billion in net foreign direct investment (FDI) during the first half of 2017, with the European Union being the top investor. Foreign investment in […]
September 6, 2017

More Turkish contractors made their way into world’s top International Contractors in 2016

The number of  Turkish contractors on the list of The Top 250 International Contractors rose to 46 in 2016 from 40 in the previous year.  The […]
September 5, 2017

Cities In The Sand: How Collapse In Oil Price Can Boost Turkey’s Construction Companies

In a move to diversify away from crude, create jobs and boost investment in post-oil era, Saudi Arabia embarked on an ambitious project to build a […]

Powered by MaviKelebek