The World Bank and Additional Financing for Turkey

The World Bank and Additional Financing for Turkey

 

Humberto Lopez, the Country Director for the World Bank in Turkey, announced that the country will receive additional financing of 18 billion dollars. This announcement was made during an event organized by the Turkish Industrial Development Bank in Istanbul.

 

Turkey and Economic Growth

Lopez pointed out that Turkey has taken significant steps in the field of economic growth over the past two decades. Turkey achieved an average growth of 5.4 percent during this period. He added, “In addition to all the current financing (amounting to 17 billion dollars), Turkey will receive financing worth 18 billion dollars.”

 

Growth, Inclusivity, and Sustainability

Lopez spoke about three main topics: growth, social dimension and inclusivity, and sustainability. He emphasized that growth should be inclusive for all segments of society, not just for a specific segment.

 

Doubling of National Income in Turkey

Lopez pointed out that the per capita share of national income in Turkey has quadrupled over the past 26 years. He stressed the need to ensure the continuity of the success achieved over the past 20-25 years in the next 20 years.

 

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Employment in Turkey

Lopez indicated that employment in Turkey has increased by approximately 10 percent in the last 10 years, while it has decreased by about 9 percent in the agricultural sector. He added, “We see that while the workforce in the industrial and service sectors is increasing, it is decreasing in the agricultural sector.”

 
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