Ankara: The World Bank has approved financing of £350 million (approximately $409.9 million) to support skill training for young people in Trkiye, enabling them to enter the labor market. This announcement was made by the Treasury and Finance Ministry.

According to Anadolu Agency, the "Trkiye Education for Labor Market Readiness Project," which has been sanctioned by the World Bank's executive board, will be implemented by the Turkish National Education Ministry. The project aims to enhance young people's skill development by improving learning environments, strengthening teachers' professional capacity, and increasing collaboration with the private sector.

With the approval of this project, the total amount of external financing under favorable conditions that Trkiye has secured from the World Bank is expected to reach $4.6 billion by 2025. Treasury and Finance Minister Mehmet Simsek emphasized that the initiative aligns with the country's Medium-Term Program, which prioritizes sustainable growth and social welfare.

Minister Simsek highlighted the importance of the project, stating, "Productivity will be increased by strengthening Trkiye's capacity in education, as well as in equipping young people with the skills required."