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IsDB Group to provide $6.3 bln financing for Turkey, minister tells AA
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IsDB Group to provide $6.3 bln financing for Turkey, minister tells AA
Apr 29, 2024 2:36 AM

ISTANBUL, April 29 (Reuters) - Islamic Development Bank

(IsDB) Group will provide $6.3 billion for financing projects in

Turkey over the next two years, Finance Minister Mehmet Simsek

was quoted as saying by the Anadolu news agency on Monday.

"Thanks to the economic programme we have implemented, the

flow of external resources to Turkey continues to be strong," he

said at IsDB's annual meeting in Riyadh, adding the bank has

provided $12.9 billion funding to Turkey since its foundation.

Simsek said $2 billion would come from the IsDB, $900

million from the International Islamic Trade Finance Corporation

(ITFC), $300 million from the Islamic Corporation for the

Development of the Private Sector (ICD), and $3.1 billion from

the Islamic Corporation for the Insurance of Investment and

Export Credit (ICIEC).

It will support sectors such as education, health,

transport, finance, agriculture, industry, energy and

infrastructure, he was quoted as telling Anadolu.

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