World Bank approves nearly $410M in youth training funding for Türkiye

The World Bank approved financing of €350 million (about $409.9 million) to support the skill training of young people to enter the labor market, according to the Treasury and Finance Ministry.

The "Türkiye Education for Labor Market Readiness Project," approved by the World Bank's executive board, will be carried out by the Turkish National Education Ministry.

The project aims to support young people's skill development by improving learning environments, strengthening teachers' professional capacity, and increasing collaboration with the private sector.

The amount of external financing under favorable conditions that Türkiye secured from the World Bank has thus reached $4.6 billion in 2025.

Treasury and Finance Minister Mehmet Simsek told Anadolu that the work is underway within the framework of the country's Medium-Term Program to prioritize sustainable growth and social welfare.

"Productivity will be increased by strengthening Türkiye's capacity in education, as well as in equipping young people with the skills required," he said.

"This successful cooperation between Türkiye and the World Bank will continue to strengthen in the coming period," he added.