Business · Companies · 2 hrs ago
World Bank approves $485 million for Turkish manufacturers
The World Bank approved $485 million for Turkish manufacturers to invest in green and digital technologies.
Türkiye’s Treasury and Finance Ministry will borrow the funds on favorable terms and lend $242.5 million each to Türk Eximbank and VakıfBank.
The funding targets manufacturers with approved investment incentives, including small and medium-sized firms and mid-sized businesses.
The investments are intended to support more sustainable production and the use of advanced technology.
The project aims to improve manufacturers’ global competitiveness by helping them take part in global value chains.
Finance Minister Mehmet Şimşek said the new financing brings Türkiye’s long-term external financing on favorable terms this year to $10 billion, and that it aligns with priorities for the COP31 climate summit Türkiye will host in November.
The World Bank has approved $485 million in financing to support Turkish manufacturers’ green and digital investments.
The project will be implemented through Türk Eximbank and VakıfBank, with each bank receiving the equivalent of $242.5 million.
Eligible funding will support manufacturers with incentive certificates under government green and digital transformation programs.
The project aims to encourage sustainable production and advanced technology, and improve manufacturers’ competitiveness in global value chains.
Treasury and Finance Minister Mehmet Şimşek said Turkey had secured $10 billion in long-term external financing on favorable terms this year.
- Who
- The World Bank is providing the financing. Türk Eximbank and VakıfBank will channel it to eligible manufacturers.
- What
- The bank approved $485 million for manufacturers’ green and digital transformation investments.
- When
- The reports were published on October 28 and 29, 2026. The approval date was not stated.
- Where
- Turkey.
- Why
- To support sustainable production and adoption of advanced technology, and strengthen manufacturers’ competitiveness.
This story does not have two clearly opposing sides.
Sabah reported that the World Bank’s board had approved the financing.
Hürriyet Daily News reported that the project would be implemented by Türk Eximbank and VakıfBank.
- Total financing
- $485 million
- Türk Eximbank allocation
- Equivalent of $242.5 million
- VakıfBank allocation
- Equivalent of $242.5 million
- Eligible businesses
- Small and medium-sized manufacturers and mid-cap businesses with qualifying incentive certificates
- Financing secured this year
- $10 billion in long-term external financing on favorable terms
2 sources
What people are saying
This year, the total amount of long-term and favorable external financing provided has reached $10 billion, and with this loan our support for the industrial sector will continue strongly.
We are supporting the green and digital transformation of our industry with favorable external financing.
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Sanayimizin yeşil ve dijital dönüşümünü uygun koşullu dış finansmanla destekliyoruz. Dünya Bankasından sağlanan 485 milyon dolarlık finansman işletmelerimizin yeşil ve dijital dönüşüm yatırımları için kullanılacak. Bu finansman aynı zamanda kasım ayında ev sahipliğini