Ankara: Trkiye's Treasury and Finance Ministry and the Asian Infrastructure Investment Bank (AIIB) have signed a significant Memorandum of Understanding (MoU) to enhance their cooperative efforts.

According to Anadolu Agency, the MoU formalizes AIIB's intention to provide approximately $5 billion in financing for public projects in Trkiye over a three-year period from 2025 to 2027. This agreement represents the first instance of Trkiye and AIIB establishing a multi-year cooperation framework, as stated by the ministry.

The funding will be allocated to projects in sectors such as energy, transportation, the real sector, export financing, and water management, with a focus on sustainable and green development. Furthermore, AIIB intends to provide an additional $5 billion for private-sector projects in the future, aiming to diversify financial resources for businesses and support infrastructure projects throughout Trkiye.

The statement highlighted that Trkiye is becoming a preferred partner for global development projects, thanks to strong partnerships with international development banks. By the end of 2024, Trkiye's active portfolio with these banks reached $35 billion, demonstrating confidence in the country's economic strategies.