Number of active projects
Net IBRD commitments
Trust fund portfolio
Turkey and the World Bank Group (WBG) have a strong partnership that is outlined in the recently prepared Country Partnership Framework (CPF), the Bank’s strategy for FY18–21. The CPF articulates the main areas of WBG engagement, both technically and financially.
The CPF proposes a mix of instruments, drawing on the strengths of the International Bank for Reconstruction and Development (IBRD), International Finance Corporation (IFC), and Multilateral Investment Guarantee Agency (MIGA). The WBG investment portfolio and pipeline support a range of sectors, with programs both underway and planned in the energy sector, financial and private sector development, urban development, transport, social protection, labor market development, and health care. IBRD financing for FY18-21 is estimated at US$5–7.5 billion, while IFC’s own-account investment program is expected to be US$600–800 million p.a.
Turkey values the WBG’s analytical and technical knowledge work. An extensive range of knowledge products aim to inform policy discussions in various areas (education, labor, finance, competitiveness, transport, forestry, land, and energy) and are the Bank’s primary instrument for broadening engagement with all stakeholders in Turkey. Recently, the increased Trust Fund portfolio enabled the preparation of detailed and broader coverage in education, labor market development, energy, disaster risk management, and urban development.
Implementation of the current CPF (FY18–21) is progressing well. There is an expected US$1.1 billion in financing of new projects to be delivered during the remainder of FY18 (Sustainable Cities II project, US$91 million; Gas Storage Expansion project, US$600 million; and Inclusive Access to Finance project, US$400 million).
One key engagement involves helping the Government to respond to the large number of Syrian refugees in Turkey. The WBG is partnering with the EU’s Facility for Refugees in Turkey (FRiT) and providing support in the areas of social support and adaptation, labor markets and the economy, and education, as well as in the cross-cutting areas of data collection, measurement, and monitoring.
In addition to the FRiT funds, the portfolio is also supported by a broad set of Trust Funds, including most notably the Clean Technology Fund (CTF), EU Instrument for Pre-Accession Assistance (IPA) funds, the Global Environment Facility (GEF), and Swedish International Development Cooperation Agency (SIDA) Gender Funds.
In FY17, the first Reimbursable Advisory Service agreement between the Bank and the Ministry of Development on strengthening the Government of Turkey`s capacity to manage public-private partnerships (PPPs) became effective.
The Bank is Turkey’s key partner in providing financing and advice for the country’s high-priority and complex infrastructure and services improvement projects. The Bank is also playing a key role in maximizing finance for development (MFD) through leveraging partnerships with other international financial institutions (IFIs) and catalyzing commercial financing. A recent example of the Bank’s successful role in mobilizing financing is the Trans-Anatolian Gas Pipeline Project (TANAP).
The Bank’s financing of US$800 million and due diligence for the entire project helped to leverage US$1.2 billion from MIGA to support guarantees for commercial borrowing and attract co-financing of over US$1 billion from the Asian Infrastructure and Investment Bank (AIIB) and the European Bank for Reconstruction and Development (EBRD). The Bank also helps counterparts to access climate funds and attract grant co-financing for various investment projects in the municipal, energy, irrigation, transport, and other sectors.
Last Updated: Apr 17, 2018