The World Bank has approved $750 million in financing for Türkiye’s Agrifood Sector project, according to the Turkish Treasury and Finance Ministry.

The project will be implemented by Türkiye’s Ministry of Agriculture and Forestry and the Agriculture and Rural Development Agency using the secured financing, The Caspian Post reports, citing Anadolu Agency.

The initiative aims to strengthen the competitiveness and integration of agricultural food value chains in Türkiye while increasing the productivity and growth potential of agricultural food companies and producers. It will also support their access to markets.

With the newly approved financing, the World Bank’s total long-term and favorable external financing for Türkiye across all sectors in 2026 will exceed $9 billion.

Turkish Treasury and Finance Minister Mehmet Simsek said cooperation with the World Bank to strengthen Türkiye’s production ecosystem would continue.

“Our efforts to secure long-term and favorable financing within our Medium-Term Program continue with a goal to prioritize sustainable growth and social welfare, and our support for agriculture and rural development will be sustained with this recent loan,” he added.