New York: The International Finance Corporation (IFC), a member of the World Bank Group, has successfully mobilized a $3.6 billion investment package for Trkiye, spanning the fiscal year from July 2023 to June 2024. This development highlights Trkiye's growing significance in the IFC's portfolio, positioning it as the third largest country of activity following India and Brazil. According to Anadolu Agency, Hela Cheikhrouhou, IFC's vice president for the Middle East, Central Asia, Trkiye, Afghanistan, and Pakistan, elaborated on the corporation's commitment during a series of high-level meetings organized by the Turkish American Business Association on the sidelines of the UN General Assembly in New York. These meetings emphasized Trkiye's evolving economic and fiscal policies, showcasing opportunities for foreign direct investment and enhancing trade relationships, particularly with American companies. The recent engagements at the Annual Meetings of the World Bank Group and the International Monetary Fund revealed a consensus on the positive macro-fiscal stabilization steps taken by Trkiye since mid-2023. These steps have led to improvements in sovereign ratings and have increased the appetite of the foreign private sector to invest in Trkiye, bringing new job opportunities. Cheikhrouhou confirmed the World Bank Group's commitment to deploying $35 billion in Trkiye, with $17 billion earmarked for portfolio activities and $18 billion directed towards new initiatives, half of which involve the IFC. She emphasized the vibrancy of Trkiye's private sector and its potential for generating opportunities across various sectors. IFC aims to align its priorities with the Turkish people's medium-term vision, focusing on job preservation and creation. The corporation has pioneered the issuance of green and blue bonds in Trkiye, along with sustainability and gender loans, particularly in manufacturing, agribusiness, and the services sector, supporting the country's higher tech ambitions. Cheikhrouhou highlighted Trkiye' s openness to Europe and the intention to localize some global supply chains, thereby creating higher value-added manufacturing activities. The IFC is also keen on supporting logistics and cleaner energy projects to prepare Trkiye for the upcoming European carbon border adjustment mechanism. In response to the devastating earthquakes in February 2023, the IFC provided $530 million to support micro, small, and medium enterprises, prioritizing women and agribusinesses in the affected provinces. The IFC remains active in export-oriented sectors, underscoring its admiration for the resilience of the Turkish private sector, which it views as a vital component of the economy. Cheikhrouhou expressed optimism about Trkiye's economic outlook, noting the increasing attractiveness of the country for international investment. She emphasized the importance of a diversified economy and the adoption of orthodox macro-fiscal policies to ensure stability and certainty for both local and international investors.