Turkey's Export Industry Gains More World Bank Aid

The World Bank is providing another $300 million to support the Turkish export industry. 

The funding will be used to help provide long-term working capital and investment finance to Turkish exporters. It will also help boost the capacity of banks and leasing companies as financial intermediaries to provide credit to export firms. 

The Turkish Industrial Development Bank-Turkiye Sinai ve Kalkinma Bankasi wil manage the funding.

The World Bank has previously provided four export finance intermediation loans worth a total of $1 billion to Turkish banks and leasing firms, which benefited some 500 Turkish companies since 1999. 

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About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.