Türkiye becomes World Bank’s top beneficiary with new investments

The World Bank Group is expanding its financial presence in Türkiye, having provided $5.6 billion in financing during the fiscal year ending in June, making the country the largest global recipient of the institution's resources for developing economies.

Speaking at a news conference in Istanbul, Jean Christophe Carret, World Bank director for Türkiye, said Türkiye has become one of the World Bank's largest global clients, with around $23 billion in projects under implementation.

Carret stated that the World Bank's financing in Türkiye surpassed that of other major developing economies such as India, Brazil, Nigeria and Pakistan in resource allocation.

The World Bank is continuing efforts to secure an additional $4 billion in new financing for Türkiye in this fiscal year to target infrastructure investments in transportation, energy and water.

The funds will also be channeled through domestic development banks to enhance the competitiveness and export capabilities of small and medium-sized enterprises (SMEs).

The World Bank's partnership with Türkiye is expanding into new areas of cooperation, such as energy, as Türkiye aims to boost its electrification by 35% by 2035, with talks underway with transmission system operator TEIAS to utilize the country's first electricity corridor and take advantage of high-voltage direct current (HVDC) technology.

Carret said the first HVDC corridor would be 700 kilometers (435 miles) long, stretching from the Mediterranean coast to Istanbul, and serve as a key component of the country's future electricity transmission grid.

Carret noted that rail transportation partnerships are also expanding, with existing financing for the Middle Corridor and last-mile rail connections (LMC) linking organized industrial zones between the Middle and Southern corridors.

Meanwhile, the International Finance Corporation (IFC), the private sector arm of the World Bank Group, is also expanding its investments in Türkiye.

Lisa Kaestner, IFC director for Türkiye, Kazakhstan and Uzbekistan, stated that Türkiye is the corporation's third-largest global portfolio after Brazil and India.

The IFC had a record year, investing $5.5 billion in Türkiye's private sector during fiscal year 2026, bringing the total to $25 billion over the last 10 years.

Kaestner stated that these investments focused on logistics, including $1.2 billion for Antalya Airport, as well as sustainable industrial production capacity.

The IFC also invested around $530 million through five Turkish banks in 2023 to support micro and small businesses in the nation's earthquake-stricken southern regions.