World Bank Approves $750 Million for Agricultural Transformation

September 28, 2026 · Bloomberg HT

The World Bank has approved $750 million in concessional financing for the "Transformation of the Agricultural Food Sector Project" in Turkey.

Major Funding for Agricultural Transformation

Significant funding has been secured for Turkey's agricultural production and food industry ecosystem through ongoing engagements with international financial institutions. Following initiatives coordinated by the Ministry of Treasury and Finance, the "Transformation of the Agricultural Food Sector Project" has been officially accepted by the World Bank Board of Executive Directors. Through this comprehensive approved project, Turkey will receive long-term, concessional financing totaling $750 million. With this latest announced package, the total volume of external financing secured for all sectors in 2026 has exceeded $9 billion.

Strategic Contribution to Rural Development

The upcoming work will be implemented on the ground in partnership with the Ministry of Agriculture and Forestry and the Agricultural and Rural Development Support Institution (TKDK). The initiative aims to enhance the competitiveness, value-added production, and direct market access capabilities of agricultural food businesses and producer organizations.

Commenting on the matter, Minister of Treasury and Finance Mehmet Şimşek highlighted the importance of the cooperation, stating:

'With our economic program prioritizing sustainable growth and social welfare, our efforts to secure long-term, concessional external financing within the framework of the Medium-Term Program continue at full speed. Through this loan, our support for agriculture and rural development will be strongly sustained.'

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