World Bank Backs Türkiye’s Farmers With $750 M to Boost Rural Jobs and Growth

The Türkiye Agrifood Sector Transformation for Rural Jobs and Growth Project, known as TARGET, is expected to reach approximately 225,000 farmers by 2032 and generate an estimated 110,000 more and better-paid jobs across the agrifood economy.

The World Bank Group has approved a $750 million financing package to help Türkiye's farmers and food businesses secure funding, modernise production and build stronger connections with buyers. The Türkiye Agrifood Sector Transformation for Rural Jobs and Growth Project, known as TARGET, is expected to reach approximately 225,000 farmers by 2032 and generate an estimated 110,000 more and better-paid jobs across the agrifood economy. Expected private investment of $670 million would extend the reach of the package, supporting a sector central to the country's food supply, exports and rural livelihoods.

Giving Farmers Stronger Connections to Markets

For farmers trying to grow their businesses, access to money is only part of the challenge, with fragmented production, disconnected supply chains and limited investment in processing and transport making it harder to reach dependable markets. TARGET will strengthen relationships between farmers, producer organisations and agrifood enterprises, helping them coordinate supplies, access technology and services, meet market standards and establish more stable arrangements with buyers. Around 193,000 farmers are expected to participate in stronger commercial market arrangements, and 26,300 should gain expanded access to finance. Investments in processing, storage, refrigerated supply chains, logistics and digital systems will support product quality and traceability, giving businesses better tools to track food through the supply chain and serve domestic and international customers.

Two Financing Channels to Unlock Investment

A $720 million Reimbursable Finance Facility will provide long-term financing to agrifood enterprises and producer organisations for investments that improve supply chains, strengthen resilience to climate pressures and upgrade food safety and quality systems. This facility is expected to attract an additional $144 million in private co-financing, increasing the resources available for businesses that need to invest beyond a single growing season. A separate partial credit guarantee scheme, backed by $30 million in World Bank financing, will reduce lending risks for participating financial institutions and is expected to unlock approximately $526 million in commercial loans. Farmers will be able to use this expanded access to credit to improve productivity, modernise operations and adopt technologies suited to a changing climate.

The Ministry of Agriculture and Forestry will implement TARGET through the Agriculture and Rural Development Support Institution, known as TKDK, with the International Finance Corporation complementing the project through advisory support and investments to strengthen agribusiness capabilities and access to finance. Jean-Christophe Carret, World Bank Country Director for Türkiye, described the project as a way to give farmers and businesses better access to funding, technology and market opportunities in a changing economic and climate environment. He linked those investments to stronger productivity, rural employment and Türkiye's competitiveness in regional and global agrifood markets, with expected job benefits reaching less-developed regions, women and young people.

Building an Agrifood Sector That Can Handle Climate Shocks

Droughts, heatwaves, water shortages and frost can disrupt production and place pressure on businesses throughout the food supply chain, making climate resilience a practical investment priority. TARGET will support precision agriculture, climate-smart production systems and other resilient technologies, together with better cold-chain and storage facilities and measures to reduce food loss and waste. Over a 20-year period, the project is expected to contribute to significant greenhouse gas emissions reductions, although the announcement does not provide a numerical estimate. TARGET is the first operation under the World Bank Group's Europe and Central Asia AgriConnect Program, a broader regional financing initiative supporting agrifood transformation, closer market connections, private investment and more and better-paid jobs across participating countries.