Islamic Development Bank to provide Türkiye $6.3B worth of financing

RIYADH, Saudi Arabia

The Islamic Development Bank (IsDB) Group will provide $6.3 billion worth of financing to Türkiye for development projects, the country's treasury and finance minister said Monday.

Mehmet Simsek, attending the bank's annual meeting in the Saudi capital Riyadh, underlined on X that international institutions trust Türkiye's economic program.

He noted that the IsDB has provided $12.9 billion worth of financing to Türkiye since the multilateral lender was founded in 1975.

Simsek will also deliver a speech at the meeting later on Monday.

On Saturday, the bank approved a €120 million fund ($128.6 million) for a highway project in Türkiye.