Finance Minister: IsDB Group to provide $6.3 billion financing for Türkiye

Turkish Finance Minister Mehmet Simsek has said that Islamic Development Bank (IsDB) Group will provide $6.3 billion for financing projects in Türkiye over the next two years.

"Thanks to the economic programme we have implemented, the flow of external resources to Türkiye continues to be strong," he said at IsDB's annual meeting in Riyadh, adding the bank has provided $12.9 billion funding to Türkiye since its foundation, according to Reuters.

Simsek said that $2 billion would come from the IsDB, $900 million from the International Islamic Trade Finance Corporation (ITFC), $300 million from the Islamic Corporation for the Development of the Private Sector (ICD), and $3.1 billion from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

It will support such sectors as education, health, transport, finance, agriculture, industry, energy and infrastructure.