ADB to Deliver $3 Billion Yearly for Türkiye’s Growth Under New Partnership Plan

President Kanda commended the Turkish government’s efforts to restore stability following the catastrophic 2023 earthquakes that damaged cities, infrastructure, and supply chains across southeastern Türkiye.

The Asian Development Bank (ADB) has significantly expanded its support to Türkiye, announcing a commitment to deliver $3 billion annually in project financing for 2026 and 2027. The announcement came during ADB President Masato Kanda's official visit to Ankara, where he met with President Recep Tayyip Erdoğan to reaffirm ADB's long-term partnership with Türkiye at a pivotal moment in the nation's development trajectory.

The visit marks a milestone in ADB's engagement with Türkiye, coinciding with the launch of ADB's Interim Country Partnership Strategy (ICPS) for 2025–2027, a roadmap that will guide ADB's investments and policy support across key sectors central to Türkiye's national development agenda.

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Strengthened Commitment and Strategic Alignment

During his meeting with President Erdoğan, ADB President Kanda highlighted Türkiye's strategic economic importance:

"ADB welcomes the opportunity to support Türkiye's long-term growth and resilience. With its strategic regional position bridging east and west, and its wealth of knowledge and expertise, Türkiye also has much to offer the region."

Kanda also held discussions with Vice President Cevdet Yılmaz, where both sides emphasized the importance of sustained collaboration, especially as Türkiye continues efforts to stabilize its macroeconomic environment and rebuild stronger after the 2023 earthquakes.

The ICPS outlines ADB's strategic priorities in Türkiye for 2025–2027, focusing on:

• Economic resilience and reconstruction

• Sustainable and green infrastructure

• Private sector competitiveness

• Digital and regional connectivity

• Climate adaptation and disaster preparedness

The strategy launch event was led by Türkiye's Minister of Treasury and Finance Mehmet Şimşek and Deputy Minister Osman Çelik, alongside ADB leadership.

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Initial Financing: Earthquake Recovery and Private Sector Support

Alongside the launch of the new strategy, ADB unveiled its first financing package for Türkiye under the ICPS:

1. €150 million sovereign loan for earthquake rehabilitation

This loan will support the reconstruction of critical public infrastructure damaged in the devastating 2023 earthquakes—one of the country's most severe disasters in decades.

2. $100 million non-sovereign financing facility for Akbank

Aimed at strengthening SME lending, boosting access to credit, and supporting key sectors.

3. $100 million non-sovereign financing facility for Denizbank

Targeted toward agriculture, rural development, and green financing projects.

The first sovereign loan agreement was signed on 12 November in Ankara, symbolizing the beginning of a new phase of high-impact ADB interventions in Türkiye.

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Rebuilding Stronger After the 2023 Earthquakes

President Kanda commended the Turkish government's efforts to restore stability following the catastrophic 2023 earthquakes that damaged cities, infrastructure, and supply chains across southeastern Türkiye.

ADB's financing will prioritize:

• Climate-resilient reconstruction

• Earthquake-resistant infrastructure

• Restoration of schools, hospitals, and transport systems

• Enhanced disaster preparedness and early warning systems

Kanda underscored ADB's intention to sustain momentum through and beyond 2026, ensuring that financing helps Türkiye "build back better" and supports long-term socioeconomic resilience.

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ADB to Deepen Engagement with Türkiye's Private Sector

In addition to public-sector financing, ADB is expanding its support for Türkiye's dynamic private sector. At a luncheon with business leaders in Ankara, Kanda emphasized that Türkiye's future growth will rely heavily on private-sector innovation and competitiveness.

ADB's private-sector efforts will focus on:

• Accelerating green and renewable energy investments

• Expanding access to finance for SMEs and women-led enterprises

• Supporting digital transformation and fintech expansion

• Enhancing regional connectivity and trade competitiveness

• Mobilizing global capital for climate transition initiatives

"ADB stands ready to support Türkiye's entrepreneurs by mobilizing capital, sharing global know-how, and partnering to accelerate green growth, financial inclusion, and connectivity," Kanda told business leaders.

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Türkiye's Path Forward: A Partnership for Resilience and Sustainable Development

Türkiye's engagement with ADB has deepened significantly in recent years as the country navigates complex economic, environmental, and demographic challenges. The new ICPS and ADB's projected $3 billion annual financing represent a strategic investment in:

• Climate-resilient infrastructure

• Sustainable economic transformation

• Regional connectivity and trade corridors

• Stronger financial systems

• Inclusive growth that expands opportunities for youth and women

ADB continues to work closely with Türkiye to build a robust pipeline of projects, ensuring efficient implementation and maximizing development impact.

The strengthened partnership underscores both sides' commitment to advancing Türkiye's long-term vision of sustainable, inclusive, and globally competitive growth.