Up to $10 Million in Loans for Agricultural Investments
· Sabah Ekonomi
Under the TARGET Project, launched in partnership with the Ministry of Agriculture and Forestry and the World Bank, long-term loans of up to $10 million will be provided for agriculture and food investments through Ziraat Bank.
The Turkey Agriculture-Food Sector Transformation Project for Employment and Rural Welfare (TARGET), implemented by the Rural Development Support Institution (TKDK) under the general coordination of the Ministry of Agriculture and Forestry and financed by the World Bank, is being launched. Long-term investment loans will be provided through Ziraat Bank to legal entities operating in or planning investments in the sector. The program, which aims to reach a total volume of $5.3 billion over 10 years, has allocated $750 million in the first phase.
Within the framework of the TARGET Project, investors will be offered financing opportunities of up to 80% of the total project cost. This support package, which can go up to a maximum of $10 million depending on the project size, will be transferred to businesses with a maturity of up to 7 years, including a grace period of up to 2 years. This long-term funding can be directly used for the construction of new facilities in agriculture and food, the modernization of existing structures, and the financing of modern machinery and equipment investments.
The official application announcement for the project is expected to be made public by the TKDK by the end of the year. Following the meticulous evaluation of the applications, financing disbursements for eligible projects are planned to commence in 2027. Within the scope of the signed protocol, World Bank resources will be directly transferred to producers and investors through Ziraat Bank. The project aims to support organized agricultural regions, contract farming models, and value-added product manufacturing.
At the signing ceremony, Deputy Minister of Agriculture and Forestry Ahmet Bağcı made the following statement regarding the issue:
Ziraat Bank General Manager Alpaslan Çakar pointed to the bank's expertise and said:
TKDK President Ahmet Antalyalı emphasized rural development and stated:
| Value | Period | Measure |
|---|---|---|
| 10 million $ | 2026 | Maximum financing amount |
| 80 % | 2026 | Investment amount financing coverage ratio |
| 2 years | 2026 | Grace period |
| 7 years | 2026 | Maximum loan term |
| 5.3 billion $ | 10-year period | 10-year total financing target |
| 750 million $ | First phase | First phase resource amount |